Mutual of America Capital Management LLC Cuts Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Mutual of America Capital Management LLC decreased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 3.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 119,879 shares of the financial services provider’s stock after selling 4,401 shares during the period. Mutual of America Capital Management LLC’s holdings in Columbia Banking System were worth $2,384,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Columbia Banking System in the fourth quarter valued at approximately $63,152,000. Corient Private Wealth LLC purchased a new stake in shares of Columbia Banking System during the 4th quarter valued at approximately $963,000. Orion Portfolio Solutions LLC lifted its holdings in Columbia Banking System by 10.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 33,490 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 3,211 shares during the last quarter. United Services Automobile Association grew its position in Columbia Banking System by 11.3% in the fourth quarter. United Services Automobile Association now owns 17,093 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 1,734 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in Columbia Banking System by 75.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,327 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 5,752 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Stock Up 1.3 %

NASDAQ COLB opened at $26.08 on Wednesday. Columbia Banking System, Inc. has a 52 week low of $17.08 and a 52 week high of $28.11. The firm has a 50 day moving average of $24.37 and a two-hundred day moving average of $21.00. The stock has a market capitalization of $5.46 billion, a PE ratio of 11.19 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $472.15 million during the quarter, compared to the consensus estimate of $476.01 million. Columbia Banking System had a net margin of 15.94% and a return on equity of 10.89%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. On average, equities research analysts expect that Columbia Banking System, Inc. will post 2.55 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.44 annualized dividend and a dividend yield of 5.52%. Columbia Banking System’s dividend payout ratio is presently 61.80%.

Analyst Ratings Changes

Several research analysts have weighed in on COLB shares. Wedbush raised shares of Columbia Banking System from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $28.00 to $31.00 in a research note on Tuesday. Keefe, Bruyette & Woods lifted their target price on shares of Columbia Banking System from $23.00 to $27.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Barclays boosted their target price on Columbia Banking System from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. StockNews.com cut Columbia Banking System from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada boosted their price objective on Columbia Banking System from $21.00 to $26.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.42.

Columbia Banking System Company 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.