New Mexico Educational Retirement Board Invests $804,000 in Columbia Banking System, at Defense World
August 2, 2023
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The New Mexico Educational Retirement Board (NMERB) recently made a major investment in Columbia Banking System ($NASDAQ:COLB), Inc. (CBSI). According to Defense World, the NMERB has invested $804,000 in the company. CBSI is a financial holding company that provides commercial banking services on the Pacific Coast region of the United States. The investment made by NMERB in CBSI is a testament to the trustworthiness of the banking system and its products. CBSI has continued to expand its portfolio of services and products, which include home loans, auto loans, business loans, digital banking services, and mobile banking services.
The company has also been lauded for its commitment to sustainability, as it focuses on reducing its carbon footprint and using renewable energy sources. This investment by NMERB is strategic in nature and shows that they trust the future of CBSI. The company is dedicated to delivering innovative financial solutions and providing quality customer service. With this investment, CBSI will be able to expand its reach and offer more financial solutions to its customers.
Share Price
In response to this news, COLUMBIA BANKING SYSTEM‘s stock opened at $22.3 and closed at $22.4, marking a 0.5% increase from its last closing price of $22.2. This investment came as a result of the New Mexico Educational Retirement Board’s confidence in the potential of COLUMBIA BANKING SYSTEM to provide a secure and sustainable return on investment. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for COLB. More…
| Total Revenues | Net Income | Net Margin |
| – | 286.34 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for COLB. More…
| Operations | Investing | Financing |
| 1.07k | -3.53k | 1k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for COLB. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 53.59k | 48.76k | – |
Key Ratios Snapshot
Some of the financial key ratios for COLB are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.3% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
At GoodWhale, we have done an analysis of COLUMBIA BANKING SYSTEM‘s financials. After reviewing the star chart, we concluded that COLUMBIA BANKING SYSTEM is classified as a ‘cow’, a type of company that has a track record of paying out consistent and sustainable dividends. This type of company would be attractive to dividend-focused investors who are looking for steady returns on their investments. In terms of its strengths, COLUMBIA BANKING SYSTEM is strong in assets, medium in dividend, and weak in growth, profitability. However, it has a high health score of 7/10 considering its cashflows and debt, indicating that it is capable of safely riding out any crisis without the risk of bankruptcy. More…
Peers
As of December 31, 2018, Columbia Banking System operated through a network of 246 branches and 597 ATMs in Washington, Oregon, Idaho, and Montana. Columbia Banking System’s principal subsidiaries are Columbia State Bank and Columbia Trust Company. Its competitors are PacWest Bancorp, Pioneer Bankcorp Inc, Glacier Bancorp Inc.
– PacWest Bancorp ($NASDAQ:PACW)
As of 2022, PacWest Bancorp has a market cap of 3.05B. The company is a bank holding company that operates through its subsidiaries Pacific Western Bank and Bridge Bank. It offers a range of banking products and services to small and medium-sized businesses, and professionals and entrepreneurs in the United States.
– Pioneer Bankcorp Inc ($OTCPK:PBKC)
Glacier Bancorp Inc is a bank holding company with $6.35B in assets as of 2022. The company operates through its subsidiary banks, which provide commercial banking services to individuals, small businesses, and agricultural businesses in Montana, Idaho, Wyoming, Colorado, Utah, Washington, and Oregon. Its services include checking and savings accounts, loans, and credit cards.
Summary
The New Mexico Educational Retirement Board recently invested $804,000 in Columbia Banking System, Inc. This investment is a sign of confidence in the company’s strength and potential. Analysts have noted that Columbia Banking System is well-positioned due to its strong balance sheet, low-cost deposits, and local market presence. Furthermore, the company’s focus on digital offerings has enabled it to remain competitive in today’s climate. Overall, this investment highlights the potential of Columbia Banking System and suggests that it is well-positioned to capitalize on growth opportunities going forward.
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