Mesirow Institutional Investment Management Inc. Grows Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Mesirow Institutional Investment Management Inc. boosted its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 41.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 726,702 shares of the financial services provider’s stock after acquiring an additional 211,516 shares during the period. Columbia Banking System accounts for 1.3% of Mesirow Institutional Investment Management Inc.’s portfolio, making the stock its 28th largest holding. Mesirow Institutional Investment Management Inc. owned approximately 0.35% of Columbia Banking System worth $14,454,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Columbia Banking System during the fourth quarter valued at approximately $63,152,000. Public Employees Retirement Association of Colorado boosted its position in shares of Columbia Banking System by 3,245.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 864,604 shares of the financial services provider’s stock valued at $23,068,000 after acquiring an additional 838,762 shares during the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Columbia Banking System by 21.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 4,468,643 shares of the financial services provider’s stock valued at $86,468,000 after purchasing an additional 788,383 shares in the last quarter. Franklin Resources Inc. increased its position in Columbia Banking System by 9.9% in the fourth quarter. Franklin Resources Inc. now owns 7,788,928 shares of the financial services provider’s stock worth $207,809,000 after purchasing an additional 700,643 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Columbia Banking System by 16.2% during the fourth quarter. Wellington Management Group LLP now owns 4,578,618 shares of the financial services provider’s stock valued at $122,158,000 after purchasing an additional 637,212 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on COLB. Royal Bank of Canada raised their target price on shares of Columbia Banking System from $21.00 to $26.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Stephens raised their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Wedbush upped their target price on Columbia Banking System from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods raised their price target on Columbia Banking System from $23.00 to $27.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Finally, Truist Financial increased their target price on Columbia Banking System from $20.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Columbia Banking System has a consensus rating of “Hold” and a consensus price target of $25.04.

Columbia Banking System Stock Performance

Shares of Columbia Banking System stock opened at $24.67 on Wednesday. The company has a market capitalization of $5.17 billion, a PE ratio of 10.59 and a beta of 0.65. The company has a 50-day simple moving average of $23.06 and a two-hundred day simple moving average of $20.34. Columbia Banking System, Inc. has a one year low of $17.08 and a one year high of $28.11.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $472.15 million for the quarter, compared to the consensus estimate of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. On average, equities analysts predict that Columbia Banking System, Inc. will post 2.55 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Friday, August 23rd will be issued a $0.36 dividend. The ex-dividend date is Friday, August 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 5.84%. Columbia Banking System’s payout ratio is 61.80%.

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.