Mutual of America Capital Management LLC Has $3.44 Million Stock Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Mutual of America Capital Management LLC lowered its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,846 shares of the financial services provider’s stock after selling 6,693 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Columbia Banking System worth $3,438,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Columbia Banking System by 1,506.8% in the third quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,326 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Columbia Banking System in the fourth quarter worth about $32,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Columbia Banking System by 152.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 1,589 shares of the financial services provider’s stock worth $34,000 after buying an additional 959 shares during the last quarter. First Pacific Financial acquired a new stake in shares of Columbia Banking System in the fourth quarter worth about $40,000. Finally, Global Retirement Partners LLC lifted its position in shares of Columbia Banking System by 27.2% in the third quarter. Global Retirement Partners LLC now owns 2,489 shares of the financial services provider’s stock worth $47,000 after buying an additional 533 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on COLB. Raymond James cut Columbia Banking System from a “strong-buy” rating to an “outperform” rating and set a $25.00 price target for the company. in a research report on Thursday, January 25th. Citigroup cut their price objective on Columbia Banking System from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Keefe, Bruyette & Woods cut their price objective on Columbia Banking System from $25.00 to $23.00 and set a “market perform” rating for the company in a research report on Friday, April 5th. JPMorgan Chase & Co. cut their price objective on Columbia Banking System from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, April 4th. Finally, Piper Sandler cut their price objective on Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.42.

Insider Activity

In related news, CEO Clint Stein acquired 9,500 shares of the stock in a transaction dated Tuesday, January 30th. The shares were bought at an average cost of $20.96 per share, for a total transaction of $199,120.00. Following the purchase, the chief executive officer now owns 165,684 shares in the company, valued at approximately $3,472,736.64. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Clint Stein acquired 9,500 shares of the stock in a transaction dated Tuesday, January 30th. The shares were bought at an average cost of $20.96 per share, for a total transaction of $199,120.00. Following the purchase, the chief executive officer now owns 165,684 shares in the company, valued at approximately $3,472,736.64. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Aaron James Deer acquired 2,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was bought at an average price of $19.32 per share, for a total transaction of $38,640.00. Following the completion of the purchase, the insider now owns 36,850 shares in the company, valued at approximately $711,942. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 35,133 shares of company stock worth $719,737. Company insiders own 0.59% of the company’s stock.

Columbia Banking System Stock Up 0.8 %

Shares of COLB opened at $17.49 on Thursday. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $28.11. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 10.60 and a beta of 0.71. The stock’s 50-day moving average price is $18.52 and its 200 day moving average price is $21.19.

Columbia Banking System (NASDAQ:COLB) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.35). Columbia Banking System had a net margin of 12.71% and a return on equity of 10.27%. The firm had revenue of $519.16 million for the quarter, compared to the consensus estimate of $525.94 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The company’s revenue was up 52.5% on a year-over-year basis. Equities research analysts expect that Columbia Banking System, Inc. will post 2.25 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were paid a $0.36 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.44 annualized dividend and a dividend yield of 8.23%. Columbia Banking System’s dividend payout ratio is currently 87.27%.

About Columbia Banking System

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.