Callan Family Office LLC Invests $232,000 in Columbia Banking System, Inc. (NASDAQ:COLB)

Callan Family Office LLC acquired a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 8,578 shares of the financial services provider’s stock, valued at approximately $232,000.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of Columbia Banking System during the 4th quarter worth approximately $32,000. Smartleaf Asset Management LLC increased its stake in shares of Columbia Banking System by 62.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 780 shares in the last quarter. Principal Securities Inc. increased its stake in shares of Columbia Banking System by 171.3% during the 4th quarter. Principal Securities Inc. now owns 2,127 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 1,343 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Columbia Banking System by 36.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,977 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 801 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Columbia Banking System by 1,507.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,855 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 4,553 shares in the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Stock Down 2.5 %

Shares of COLB opened at $23.89 on Wednesday. The firm has a market cap of $5.01 billion, a PE ratio of 9.41 and a beta of 0.62. The company’s fifty day moving average is $27.20 and its two-hundred day moving average is $27.49. Columbia Banking System, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $32.85.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. As a group, equities research analysts anticipate that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.44 annualized dividend and a dividend yield of 6.03%. Columbia Banking System’s payout ratio is 56.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COLB. UBS Group began coverage on shares of Columbia Banking System in a research note on Tuesday, December 17th. They set a “neutral” rating and a $32.00 price objective for the company. Stephens decreased their target price on shares of Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their target price on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Barclays raised their target price on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Citigroup decreased their target price on shares of Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Columbia Banking System currently has a consensus rating of “Hold” and an average price target of $30.38.

Insider Activity at Columbia Banking System

In related news, VP Torran B. Nixon sold 4,481 shares of Columbia Banking System stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the transaction, the vice president now owns 104,869 shares in the company, valued at approximately $2,725,545.31. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.62% of the company’s stock.

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.