Columbia Banking System, Inc. (NASDAQ:COLB) Shares Purchased by Mutual of America Capital Management LLC

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Mutual of America Capital Management LLC raised its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLBGet a rating) by 5.5% in the first quarter, HoldingsChannel.com reports. The institutional investor held 11,201 shares of the financial services provider after purchasing an additional 580 shares during the period. Mutual of America Capital Management LLC’s holdings in Columbia Banking System were worth $361,000 when it last filed with the SEC.

Other institutional investors and hedge funds also changed their positions in the company. Earnest Partners LLC acquired a new position in shares of Columbia Banking System during the fourth quarter worth approximately $27,000. Covestor Ltd acquired a new position in shares of Columbia Banking System during the fourth quarter worth approximately $28,000. Pinebridge Investments LP acquired a new position in shares of Columbia Banking System during the fourth quarter worth approximately $69,000. FourThought Financial LLC increased its position in Columbia Banking System shares by 29.6% during the first quarter. FourThought Financial LLC now owns 3,671 shares of the financial services provider worth $118,000 after buying 839 additional shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Columbia Banking System during the fourth quarter worth approximately $139,000. 94.44% of the shares are held by institutional investors and hedge funds.

Insider Buying and Selling at Columbia Banking System

Separately, director Craig D. Eerkes purchased 1,694 shares of the company in a transaction dated Friday, June 10. The stock was acquired at an average price of $28.52 per share, for a total transaction of $48,312.88. Following the completion of the purchase, the director now directly owns 20,227 shares of the company, valued at $576,874.04. The purchase was disclosed in a filing with the SEC, accessible via this link. During the last quarter, insiders purchased 2,713 shares of the company worth $74,593. 0.62% of the shares are held by insiders.

Columbia Banking System trades up 0.9%

Shares of NASDAQ COLB opened at $30.17 on Monday. Columbia Banking System, Inc. has a 12-month low of $26.97 and a 12-month high of $40.78. The stock has a 50-day moving average of $29.23 and a 200-day moving average of $31.73. The stock has a market capitalization of $2.37 billion, a P/E ratio of 10.85 and a beta of 0.67.

Colombian banking system (NASDAQ:COLBGet a rating) last released its quarterly earnings data on Thursday, July 21. The financial services provider reported earnings per share of $0.75 for the quarter, missing analyst consensus estimates of $0.77 per ($0.02). Columbia Banking System had a net margin of 31.28% and a return on equity of 9.68%. During the same period a year earlier, the company posted earnings per share of $0.77. As a group, research analysts predict Columbia Banking System, Inc. will post earnings per share of 2.72 for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 17. Shareholders of record on Wednesday, August 3 will receive a dividend of $0.30. This represents a dividend of $1.20 on an annualized basis and a yield of 3.98%. The ex-dividend date is Tuesday, August 2. Columbia Banking System’s dividend payout ratio is currently 43.17%.

Wall Street analysts predict growth

A number of stock analysts have recently commented on the company. Raymond James lowered its price target on Columbia Banking System from $38.00 to $34.00 and set an “outperform” rating for the company in a Thursday, July 7 research report. Piper Sandler lowered her price target on Columbia Banking System from $35.00 to $31.00 in a Monday, May 2 report. Finally, Royal Bank of Canada raised its price target on Columbia Banking System from $35.00 to $36.00 and gave the company an “sector performance” rating in a Friday, April 22 report. Four analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.80.

Columbia Banking System Profile

(Get a rating)

Columbia Banking System, Inc operates as a bank holding company for Columbia State Bank which provides a range of banking services to small and medium businesses, professionals and individuals in the United States. It offers personal banking products and services, including interest-free and interest-bearing checks, savings accounts, money market and certificates of deposit; home mortgages for purchases and refinances, home equity loans and lines of credit and other personal loans; debit and credit cards; and digital banking.

Further reading

Want to see what other hedge funds hold COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLBGet a rating).

Institutional ownership by quarter for Columbia Banking System (NASDAQ:COLB)



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