Columbia Banking System, Inc. $COLB Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,533 shares of the financial services provider’s stock after selling 3,311 shares during the period. Mutual of America Capital Management LLC’s holdings in Columbia Banking System were worth $2,444,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in COLB. Geneos Wealth Management Inc. grew its holdings in Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 794 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Columbia Banking System during the 1st quarter valued at $37,000. Financial Harvest LLC acquired a new stake in Columbia Banking System during the 1st quarter valued at $53,000. UMB Bank n.a. grew its holdings in Columbia Banking System by 38.1% during the 2nd quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 623 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Columbia Banking System by 41.4% during the 2nd quarter. Parallel Advisors LLC now owns 2,679 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 785 shares in the last quarter. 92.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COLB. JPMorgan Chase & Co. lowered their price target on shares of Columbia Banking System from $26.50 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, July 1st. Citigroup reissued a “neutral” rating and set a $26.00 price objective (up from $22.00) on shares of Columbia Banking System in a report on Monday, July 28th. Piper Sandler raised their price objective on shares of Columbia Banking System from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Keefe, Bruyette & Woods raised shares of Columbia Banking System from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $30.00 to $31.00 in a report on Friday, October 10th. Finally, Stephens raised shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.93.

Columbia Banking System Stock Performance

Columbia Banking System stock opened at $25.54 on Friday. The firm’s 50-day moving average is $26.06 and its 200-day moving average is $24.50. Columbia Banking System, Inc. has a 1 year low of $19.61 and a 1 year high of $32.85. The company has a market cap of $5.37 billion, a P/E ratio of 10.13 and a beta of 0.60.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Monday, March 4th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. The company had revenue of $348.47 million for the quarter. As a group, sell-side analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.36 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.44 annualized dividend and a yield of 5.6%. Columbia Banking System’s dividend payout ratio (DPR) is currently 57.14%.

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.