Mubadala Investment Co PJSC Buys Shares of 84,597 Columbia Banking System, Inc. (NASDAQ:COLB)

Mubadala Investment Co PJSC purchased a new stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 84,597 shares of the financial services provider's stock, valued at approximately $2,285,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of COLB. Arizona State Retirement System grew its position in Columbia Banking System by 0.8% in the fourth quarter. Arizona State Retirement System now owns 60,758 shares of the financial services provider's stock valued at $1,641,000 after acquiring an additional 469 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Columbia Banking System by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider's stock worth $1,025,000 after purchasing an additional 544 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Columbia Banking System by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 91,679 shares of the financial services provider's stock worth $2,476,000 after purchasing an additional 580 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Columbia Banking System by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider's stock worth $844,000 after purchasing an additional 612 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Columbia Banking System by 1.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 49,684 shares of the financial services provider's stock worth $1,342,000 after purchasing an additional 621 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on COLB shares. Citigroup reduced their price target on Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Stephens cut their price objective on 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. Piper Sandler cut their price objective on Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods cut their price objective on Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. Finally, Royal Bank of Canada dropped their price target on Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Columbia Banking System currently has an average rating of "Hold" and an average price target of $29.85.

Insider Buying and Selling at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the transaction, the vice president now directly owns 104,869 shares of the company's stock, valued at $2,725,545.31. The trade was a 4.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.68% of the company's stock.

Columbia Banking System Stock Performance

NASDAQ:COLB traded down $0.11 during trading on Friday, reaching $25.02. The company's stock had a trading volume of 1,729,492 shares, compared to its average volume of 1,778,669. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 9.85 and a beta of 0.59. The firm has a 50 day moving average of $23.45 and a 200-day moving average of $26.63. Columbia Banking System, Inc. has a 12 month low of $18.11 and a 12 month high of $32.85.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The company had revenue of $481.92 million during the quarter, compared to the consensus estimate of $482.86 million. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 EPS. Equities research analysts forecast that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.76%. Columbia Banking System's payout ratio is currently 61.02%.

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.