Mirae Asset Global Investments Co. Ltd. Purchases 14,135 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Mirae Asset Global Investments Co. Ltd. grew its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 12.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 127,672 shares of the financial services provider’s stock after acquiring an additional 14,135 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Columbia Banking System worth $3,314,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Allworth Financial LP lifted its stake in shares of Columbia Banking System by 0.3% in the 3rd quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider’s stock valued at $4,583,000 after acquiring an additional 458 shares during the last quarter. CWC Advisors LLC. bought a new position in shares of Columbia Banking System in the 3rd quarter valued at $241,000. Ausbil Investment Management Ltd lifted its stake in shares of Columbia Banking System by 483.2% in the 3rd quarter. Ausbil Investment Management Ltd now owns 72,413 shares of the financial services provider’s stock valued at $1,891,000 after acquiring an additional 59,996 shares during the last quarter. Moody Aldrich Partners LLC lifted its stake in shares of Columbia Banking System by 12.1% in the 3rd quarter. Moody Aldrich Partners LLC now owns 314,999 shares of the financial services provider’s stock valued at $8,225,000 after acquiring an additional 34,098 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Columbia Banking System in the 3rd quarter valued at $208,000. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Trading Down 0.5 %

COLB stock opened at $28.64 on Wednesday. The stock has a 50-day moving average price of $25.68 and a 200-day moving average price of $22.42. The firm has a market cap of $6.00 billion, a PE ratio of 12.40 and a beta of 0.64. Columbia Banking System, Inc. has a 1-year low of $17.08 and a 1-year high of $28.88.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. During the same period last year, the business posted $0.79 EPS. On average, analysts forecast that Columbia Banking System, Inc. will post 2.55 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.03%. Columbia Banking System’s dividend payout ratio is presently 62.34%.

Analysts Set New Price Targets

Several brokerages recently issued reports on COLB. StockNews.com raised Columbia Banking System from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. JPMorgan Chase & Co. lowered their target price on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Barclays raised their target price on Columbia Banking System from $25.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Wells Fargo & Company raised their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Truist Financial raised their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.12.

Columbia Banking System Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.