Mutual of America Capital Management LLC Sells 6,664 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Mutual of America Capital Management LLC trimmed its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,215 shares of the financial services provider’s stock after selling 6,664 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Columbia Banking System worth $2,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP lifted its holdings in shares of Columbia Banking System by 0.3% during the 3rd quarter. Allworth Financial LP now owns 175,538 shares of the financial services provider’s stock valued at $4,583,000 after purchasing an additional 458 shares during the last quarter. Sippican Capital Advisors increased its position in Columbia Banking System by 0.5% during the 3rd quarter. Sippican Capital Advisors now owns 111,172 shares of the financial services provider’s stock valued at $2,903,000 after buying an additional 552 shares in the last quarter. Signaturefd LLC raised its stake in Columbia Banking System by 14.0% in the third quarter. Signaturefd LLC now owns 5,767 shares of the financial services provider’s stock valued at $151,000 after buying an additional 709 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Columbia Banking System by 2.9% in the third quarter. Bleakley Financial Group LLC now owns 25,111 shares of the financial services provider’s stock worth $656,000 after acquiring an additional 718 shares in the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in shares of Columbia Banking System by 85.1% during the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,020 shares during the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COLB has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Columbia Banking System from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. JPMorgan Chase & Co. cut their target price on Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Raymond James raised their target price on Columbia Banking System from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Wedbush boosted their price target on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.12.

Columbia Banking System Trading Up 3.2 %

Columbia Banking System stock opened at $31.64 on Friday. The firm has a market cap of $6.63 billion, a PE ratio of 13.70 and a beta of 0.62. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $31.86. The stock’s 50 day simple moving average is $27.78 and its two-hundred day simple moving average is $23.81.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $765.06 million for the quarter, compared to the consensus estimate of $478.80 million. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. During the same period in the prior year, the firm posted $0.79 earnings per share. On average, equities research analysts forecast that Columbia Banking System, Inc. will post 2.63 EPS for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, November 29th. Columbia Banking System’s dividend payout ratio (DPR) is presently 62.34%.

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.