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Mercer Global Advisors Inc. ADV Has $520,000 Position in Columbia Banking System, Inc. (NASDAQ:COLB)

Defense World · Aug 29, 2022 05:01

Mercer Global Advisors Inc. ADV increased its stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Get Rating) by 3.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,106 shares of the financial services provider's stock after acquiring an additional 465 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Columbia Banking System were worth $520,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd bought a new stake in Columbia Banking System in the fourth quarter valued at approximately $28,000. Meeder Asset Management Inc. bought a new stake in Columbia Banking System in the first quarter valued at approximately $41,000. Pinebridge Investments L.P. bought a new position in shares of Columbia Banking System during the fourth quarter worth approximately $69,000. Howe & Rusling Inc. bought a new position in shares of Columbia Banking System during the first quarter worth approximately $88,000. Finally, FourThought Financial LLC increased its stake in shares of Columbia Banking System by 29.6% during the first quarter. FourThought Financial LLC now owns 3,671 shares of the financial services provider's stock worth $118,000 after purchasing an additional 839 shares during the period. Institutional investors own 94.44% of the company's stock.

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Columbia Banking System Price Performance

Shares of NASDAQ:COLB opened at $30.93 on Monday. The company has a market capitalization of $2.43 billion, a P/E ratio of 11.13 and a beta of 0.67. Columbia Banking System, Inc. has a 1 year low of $26.97 and a 1 year high of $40.78. The business's 50 day simple moving average is $29.94 and its 200 day simple moving average is $31.09.

Columbia Banking System (NASDAQ:COLB – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). Columbia Banking System had a return on equity of 9.68% and a net margin of 31.28%. During the same period last year, the company posted $0.77 EPS. On average, sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.74 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Shareholders of record on Wednesday, August 3rd were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Tuesday, August 2nd. Columbia Banking System's dividend payout ratio is presently 43.17%.

Insider Buying and Selling at Columbia Banking System

In other Columbia Banking System news, Director Craig D. Eerkes bought 1,694 shares of Columbia Banking System stock in a transaction on Friday, June 10th. The shares were purchased at an average price of $28.52 per share, with a total value of $48,312.88. Following the acquisition, the director now owns 20,227 shares in the company, valued at approximately $576,874.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have acquired 2,713 shares of company stock valued at $74,593. 0.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

COLB has been the topic of a number of recent research reports. Raymond James lowered their target price on Columbia Banking System from $38.00 to $34.00 and set an "outperform" rating on the stock in a research note on Thursday, July 7th. Piper Sandler lowered their target price on Columbia Banking System from $35.00 to $31.00 in a research note on Monday, May 2nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Columbia Banking System has an average rating of "Hold" and a consensus target price of $34.80.

Columbia Banking System Profile

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Columbia Banking System, Inc operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services.