Mutual of America Capital Management LLC Buys 33,576 Shares of Columbia Banking System, Inc. $COLB

Mutual of America Capital Management LLC grew its position in Columbia Banking System, Inc. (NASDAQ:COLB) by 32.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 138,109 shares of the financial services provider’s stock after purchasing an additional 33,576 shares during the period. Mutual of America Capital Management LLC’s holdings in Columbia Banking System were worth $3,555,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. HoldCo Asset Management LP bought a new position in Columbia Banking System during the 2nd quarter valued at about $104,819,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Columbia Banking System by 25.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,495,780 shares of the financial services provider’s stock worth $192,941,000 after buying an additional 1,497,177 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Columbia Banking System by 18.3% in the second quarter. American Century Companies Inc. now owns 8,948,687 shares of the financial services provider’s stock valued at $209,220,000 after acquiring an additional 1,381,597 shares during the last quarter. Norges Bank bought a new position in shares of Columbia Banking System in the second quarter valued at approximately $23,813,000. Finally, Prudential Financial Inc. boosted its holdings in shares of Columbia Banking System by 1,773.2% in the 2nd quarter. Prudential Financial Inc. now owns 767,114 shares of the financial services provider’s stock worth $17,935,000 after acquiring an additional 726,163 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company’s stock.

Columbia Banking System Trading Up 1.4%

Shares of NASDAQ:COLB opened at $29.44 on Friday. Columbia Banking System, Inc. has a 1-year low of $19.61 and a 1-year high of $31.11. The stock has a market capitalization of $8.81 billion, a P/E ratio of 13.03 and a beta of 0.60. The business has a 50-day moving average price of $28.66 and a two-hundred day moving average price of $26.75.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.10. The company had revenue of $715.00 million for the quarter, compared to analyst estimates of $693.23 million. Columbia Banking System had a net margin of 17.11% and a return on equity of 11.40%. During the same quarter last year, the firm earned $0.71 EPS. As a group, equities analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.48 dividend on an annualized basis and a yield of 5.0%. This is a boost from Columbia Banking System’s previous quarterly dividend of $0.36. Columbia Banking System’s dividend payout ratio (DPR) is presently 65.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on COLB shares. Barclays lifted their price objective on Columbia Banking System from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, December 19th. TD Cowen restated a “hold” rating on shares of Columbia Banking System in a research note on Wednesday, January 7th. Piper Sandler upped their price target on shares of Columbia Banking System from $34.50 to $36.00 and gave the stock an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods increased their price objective on shares of Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, Royal Bank Of Canada boosted their target price on shares of Columbia Banking System from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Columbia Banking System has an average rating of “Hold” and a consensus price target of $31.65.

Columbia Banking System Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.