Mirae Asset Global Investments Co. Ltd. Buys 23,948 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 151,620 shares of the financial services provider's stock after acquiring an additional 23,948 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Columbia Banking System worth $4,115,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of COLB. AQR Capital Management LLC bought a new stake in shares of Columbia Banking System in the 2nd quarter valued at $560,000. Creative Planning boosted its stake in shares of Columbia Banking System by 39.2% in the 2nd quarter. Creative Planning now owns 42,063 shares of the financial services provider's stock valued at $837,000 after purchasing an additional 11,836 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Columbia Banking System by 135.8% in the 2nd quarter. Cetera Investment Advisers now owns 111,009 shares of the financial services provider's stock valued at $2,208,000 after purchasing an additional 63,932 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Columbia Banking System by 54.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,640 shares of the financial services provider's stock valued at $95,000 after purchasing an additional 1,290 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of Columbia Banking System in the 3rd quarter valued at $994,000. 92.53% of the stock is owned by institutional investors.

Columbia Banking System Price Performance

Shares of COLB traded down $0.77 during trading hours on Wednesday, hitting $27.22. The company's stock had a trading volume of 1,041,288 shares, compared to its average volume of 1,395,046. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 10.72 and a beta of 0.66. The business has a 50 day simple moving average of $28.04 and a two-hundred day simple moving average of $27.16. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. Research analysts predict that Columbia Banking System, Inc. will post 2.72 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.36 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.29%. Columbia Banking System's payout ratio is 56.69%.

Analysts Set New Price Targets

Several brokerages recently issued reports on COLB. Wells Fargo & Company raised shares of Columbia Banking System from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $33.00 to $35.00 in a research note on Monday, January 6th. Wedbush increased their target price on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Stephens dropped their price objective on shares of Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada raised their price objective on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating for the company in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $30.38.

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.