Mirae Asset Global Investments Co. Ltd. Makes New $1.15 Million Investment in Columbia Banking System, Inc. (NASDAQ:COLB)

Mirae Asset Global Investments Co. Ltd. bought a new position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 43,209 shares of the financial services provider's stock, valued at approximately $1,153,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COLB. Wellington Management Group LLP acquired a new stake in shares of Columbia Banking System in the third quarter worth $80,011,000. Kennedy Capital Management LLC boosted its position in Columbia Banking System by 1,633.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,277,639 shares of the financial services provider's stock worth $25,936,000 after purchasing an additional 1,203,933 shares during the period. American Century Companies Inc. increased its holdings in Columbia Banking System by 32.5% in the 3rd quarter. American Century Companies Inc. now owns 3,939,877 shares of the financial services provider's stock valued at $79,980,000 after purchasing an additional 967,009 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Columbia Banking System by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,020,138 shares of the financial services provider's stock valued at $41,009,000 after purchasing an additional 243,841 shares during the period. Finally, UBS Group AG lifted its stake in shares of Columbia Banking System by 721.5% during the third quarter. UBS Group AG now owns 183,408 shares of the financial services provider's stock worth $3,723,000 after purchasing an additional 161,083 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Stock Up 1.5 %

Shares of Columbia Banking System stock traded up $0.29 during trading on Tuesday, hitting $19.08. The stock had a trading volume of 2,086,163 shares, compared to its average volume of 2,870,294. Columbia Banking System, Inc. has a 1 year low of $17.08 and a 1 year high of $28.11. The stock has a 50 day simple moving average of $18.48 and a 200 day simple moving average of $21.18. The company has a market capitalization of $3.99 billion, a PE ratio of 11.39 and a beta of 0.71.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.35). The firm had revenue of $519.16 million for the quarter, compared to analysts' expectations of $525.94 million. Columbia Banking System had a return on equity of 10.27% and a net margin of 12.71%. The company's revenue for the quarter was up 52.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 earnings per share. As a group, equities analysts expect that Columbia Banking System, Inc. will post 2.25 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 23rd were given a dividend of $0.36 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 7.55%. Columbia Banking System's payout ratio is presently 87.27%.

Insider Buying and Selling at Columbia Banking System

In related news, VP Christopher Merrywell acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were purchased at an average cost of $21.09 per share, with a total value of $105,450.00. Following the completion of the transaction, the vice president now owns 50,727 shares of the company's stock, valued at approximately $1,069,832.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Clint Stein acquired 9,500 shares of Columbia Banking System stock in a transaction that occurred on Tuesday, January 30th. The stock was purchased at an average price of $20.96 per share, with a total value of $199,120.00. Following the completion of the transaction, the chief executive officer now owns 165,684 shares in the company, valued at $3,472,736.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Christopher Merrywell bought 5,000 shares of the company's stock in a transaction on Tuesday, January 30th. The stock was purchased at an average cost of $21.09 per share, for a total transaction of $105,450.00. Following the completion of the transaction, the vice president now owns 50,727 shares in the company, valued at $1,069,832.43. The disclosure for this purchase can be found here. Insiders have acquired a total of 35,133 shares of company stock valued at $719,737 in the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

COLB has been the topic of several recent research reports. Royal Bank of Canada reduced their price target on Columbia Banking System from $25.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 9th. DA Davidson decreased their price target on shares of Columbia Banking System from $25.00 to $20.00 and set a "neutral" rating for the company in a research report on Wednesday, March 13th. Raymond James cut shares of Columbia Banking System from a "strong-buy" rating to an "outperform" rating and set a $25.00 price target on the stock. in a report on Thursday, January 25th. Wells Fargo & Company dropped their target price on shares of Columbia Banking System from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 10th. Finally, Wedbush reduced their price target on shares of Columbia Banking System from $29.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $22.42.

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.