Callan Family Office LLC Acquires New Stake in Columbia Banking System, Inc. $COLB

Key Points

• Callan Family Office LLC has acquired a new stake in Columbia Banking System, purchasing 21,454 shares valued at approximately $502,000 in the second quarter.
• Columbia Banking System recently announced a quarterly dividend of $0.36 per share, representing a 5.4% dividend yield and a payout ratio of 57.14%.
• As of now, institutional investors and hedge funds own about 92.53% of Columbia Banking System's stock, reflecting significant institutional interest in the company.

Callan Family Office LLC purchased a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 21,454 shares of the financial services provider's stock, valued at approximately $502,000.

Other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in Columbia Banking System by 194.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider's stock worth $30,000 after acquiring an additional 794 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Columbia Banking System during the 1st quarter worth about $37,000. Financial Harvest LLC acquired a new stake in Columbia Banking System during the 1st quarter worth about $53,000. UMB Bank n.a. grew its holdings in Columbia Banking System by 38.1% during the 2nd quarter. UMB Bank n.a. now owns 2,259 shares of the financial services provider's stock worth $53,000 after acquiring an additional 623 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Columbia Banking System by 41.4% during the 2nd quarter. Parallel Advisors LLC now owns 2,679 shares of the financial services provider's stock worth $63,000 after acquiring an additional 785 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $26.74 on Wednesday. Columbia Banking System, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $32.85. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 10.61 and a beta of 0.60. The firm's 50-day simple moving average is $26.02 and its 200 day simple moving average is $24.38.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its earnings results on Monday, March 4th. The financial services provider reported $0.76 EPS for the quarter. Columbia Banking System had a net margin of 17.98% and a return on equity of 11.31%. The firm had revenue of $348.47 million for the quarter. On average, sell-side analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.4%. Columbia Banking System's dividend payout ratio (DPR) is currently 57.14%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on COLB shares. Citigroup reiterated a "neutral" rating and set a $26.00 price target (up from $22.00) on shares of Columbia Banking System in a report on Monday, July 28th. Weiss Ratings reissued a "hold (c+)" rating on shares of Columbia Banking System in a research report on Tuesday. TD Cowen began coverage on shares of Columbia Banking System in a research report on Thursday, September 25th. They set a "hold" rating and a $28.00 price objective on the stock. Cowen began coverage on shares of Columbia Banking System in a research report on Wednesday, September 24th. They set a "hold" rating on the stock. Finally, Barclays cut their price objective on shares of Columbia Banking System from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, Columbia Banking System presently has an average rating of "Hold" and an average target price of $29.33.

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.

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