Callan Family Office LLC Invests $1.36 Million in Columbia Banking System, Inc. $COLB

Key Points

• Callan Family Office purchased 42,552 shares of Columbia Banking System worth approximately $1.36 million in the second quarter. Institutional investors collectively own 92.53% of the company.
• Columbia Banking System reported quarterly EPS of $0.76, exceeding estimates of $0.73, though revenue of $677 million fell short of the $687.4 million consensus forecast.
• The company announced a quarterly dividend of $0.37 per share, equivalent to a 4.8% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $33.35.

Callan Family Office LLC acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 42,552 shares of the financial services provider's stock, valued at approximately $1,364,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Columbia Banking System in the 2nd quarter worth approximately $29,000. Cedar Mountain Advisors LLC lifted its holdings in shares of Columbia Banking System by 571.7% during the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider's stock valued at $31,000 after buying an additional 949 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of 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 valued at $30,000 after buying an additional 794 shares during the period. Horizon Investments LLC lifted its holdings in shares of Columbia Banking System by 168.8% during the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider's stock valued at $34,000 after buying an additional 773 shares during the period. Finally, Rossby Financial LCC purchased a new position in shares of Columbia Banking System in the 4th quarter worth $36,000. Institutional investors own 92.53% of the company's stock.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, CMO Devine David Moore sold 3,872 shares of the business's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the sale, the chief marketing officer owned 18,636 shares of the company's stock, valued at approximately $554,793.72. The trade was a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.57% of the company's stock.

Columbia Banking System Price Performance

Shares of Columbia Banking System stock opened at $30.81 on Monday. The company's fifty day simple moving average is $31.71 and its 200-day simple moving average is $30.06. The stock has a market capitalization of $8.72 billion, a PE ratio of 12.27, a P/E/G ratio of 3.05 and a beta of 0.63. Columbia Banking System, Inc. has a 1-year low of $23.83 and a 1-year high of $33.67.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. The firm had revenue of $677.00 million during the quarter, compared to the consensus estimate of $687.40 million. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. During the same quarter in the previous year, the firm posted $0.76 EPS. As a group, research analysts anticipate that Columbia Banking System, Inc. will post 3.03 EPS for the current year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, August 28th. This represents a $1.48 annualized dividend and a yield of 4.8%. Columbia Banking System's payout ratio is 58.96%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Barclays cut their price objective on Columbia Banking System from $31.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, August 3rd. Royal Bank Of Canada increased their target price on Columbia Banking System from $34.00 to $35.00 and gave the company a "sector perform" rating in a report on Friday, July 24th. Weiss Ratings raised Columbia Banking System from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. Stephens boosted their price target on Columbia Banking System from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Columbia Banking System from $34.00 to $35.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $33.35.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company's offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.

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