Mirae Asset Global Investments Co. Ltd. Increases Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,750 shares of the financial services provider's stock after acquiring an additional 19,130 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Columbia Banking System worth $4,223,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Columbia Banking System by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 40,952 shares of the financial services provider's stock valued at $1,021,000 after acquiring an additional 1,548 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Columbia Banking System by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 24,552 shares of the financial services provider's stock valued at $612,000 after acquiring an additional 660 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Columbia Banking System by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,774,443 shares of the financial services provider's stock valued at $47,928,000 after acquiring an additional 42,527 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Columbia Banking System by 126.8% during the 1st quarter. QRG Capital Management Inc. now owns 21,959 shares of the financial services provider's stock valued at $548,000 after acquiring an additional 12,275 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Columbia Banking System by 158.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,851,217 shares of the financial services provider's stock valued at $50,001,000 after acquiring an additional 1,134,544 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Stock Performance

Shares of COLB traded up $0.38 during mid-day trading on Friday, hitting $25.45. 2,244,870 shares of the company's stock were exchanged, compared to its average volume of 1,815,217. The stock's 50-day moving average is $23.68 and its 200-day moving average is $25.01. Columbia Banking System, Inc. has a fifty-two week low of $19.18 and a fifty-two week high of $32.85. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 10.78 and a beta of 0.62.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.04. Columbia Banking System had a net margin of 16.85% and a return on equity of 11.12%. The firm had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. During the same period in the prior year, the firm earned $0.65 earnings per share. The business's quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.66%. Columbia Banking System's payout ratio is 61.02%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on COLB shares. DA Davidson boosted their price target on shares of Columbia Banking System from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Barclays upped their target price on shares of Columbia Banking System from $27.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Wells Fargo & Company upped their target price on shares of Columbia Banking System from $26.00 to $29.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Wall Street Zen initiated coverage on shares of Columbia Banking System in a research report on Thursday, May 22nd. They issued a "hold" rating on the stock. Finally, Royal Bank Of Canada decreased their target price on shares of Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $29.29.

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.