Columbia Banking System, Inc. $COLB Stock Position Trimmed by Mutual of America Capital Management LLC

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

Other hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in Columbia Banking System by 194.6% in 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 during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Columbia Banking System in the 1st quarter valued at about $37,000. Financial Harvest LLC bought a new stake in shares of Columbia Banking System during the 1st quarter worth about $53,000. UMB Bank n.a. raised its position in shares of 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 worth $53,000 after buying an additional 623 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of 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 worth $63,000 after buying an additional 785 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Cowen assumed coverage on shares of Columbia Banking System in a research report on Wednesday, September 24th. They set a “hold” rating on the stock. Stephens upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Monday, August 4th. Keefe, Bruyette & Woods upgraded shares of Columbia Banking System from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $30.00 to $31.00 in a research report on Friday, October 10th. Citigroup restated a “neutral” rating and set a $26.00 price target (up from $22.00) on shares of Columbia Banking System in a research report on Monday, July 28th. Finally, Zacks Research downgraded shares of Columbia Banking System from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.93.

Columbia Banking System Price Performance

Shares of COLB 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. The stock has a market capitalization of $5.37 billion, a P/E ratio of 10.13 and a beta of 0.60. Columbia Banking System, Inc. has a 12-month low of $19.61 and a 12-month high of $32.85.

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

Columbia Banking System Dividend Announcement

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

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.