Callan Family Office LLC Makes New $1.36 Million Investment in Columbia Banking System, Inc. $COLB

Callan Family Office LLC purchased a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 42,552 shares of the financial services provider’s stock, valued at approximately $1,364,000.

A number of other hedge funds have also modified their holdings of the company. Quad Cities Investment Group LLC increased its stake in shares of Columbia Banking System by 0.7% in the second quarter. Quad Cities Investment Group LLC now owns 45,802 shares of the financial services provider’s stock worth $1,468,000 after purchasing an additional 331 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Columbia Banking System by 6.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,949 shares of the financial services provider’s stock valued at $166,000 after buying an additional 348 shares in the last quarter. Hilton Head Capital Partners LLC lifted its stake in shares of Columbia Banking System by 25.8% during the 1st quarter. Hilton Head Capital Partners LLC now owns 1,945 shares of the financial services provider’s stock valued at $53,000 after buying an additional 399 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of Columbia Banking System by 0.6% during the 1st quarter. State of Michigan Retirement System now owns 71,041 shares of the financial services provider’s stock valued at $1,949,000 after buying an additional 400 shares in the last quarter. Finally, Kera Capital Partners Inc. boosted its holdings in Columbia Banking System by 5.7% in the 1st quarter. Kera Capital Partners Inc. now owns 7,894 shares of the financial services provider’s stock worth $217,000 after buying an additional 425 shares during the period. 92.53% of the stock is currently owned by institutional investors.

Insider Transactions at Columbia Banking System

In other Columbia Banking System news, CMO Devine David Moore sold 3,872 shares of Columbia Banking System stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the sale, the chief marketing officer owned 18,636 shares of the company’s stock, valued at $554,793.72. The trade was a 17.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by insiders.

Columbia Banking System Stock Performance

Shares of NASDAQ COLB opened at $30.81 on Monday. The company has a market cap of $8.72 billion, a P/E ratio of 12.27, a P/E/G ratio of 3.05 and a beta of 0.63. Columbia Banking System, Inc. has a 52-week low of $23.83 and a 52-week high of $33.67. The firm’s fifty day moving average is $31.71 and its two-hundred day moving average is $30.06.

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

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.8%. The ex-dividend date is Friday, August 28th. Columbia Banking System’s dividend payout ratio (DPR) is currently 58.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COLB. Keefe, Bruyette & Woods increased their price target on Columbia Banking System from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Wells Fargo & Company boosted their price objective on Columbia Banking System from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Barclays dropped their price objective on Columbia Banking System from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, August 3rd. Zacks Research cut Columbia Banking System from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their target price on Columbia Banking System from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. 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’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.