Angel Oak Capital Advisors LLC Buys Shares of 31,000 Columbia Banking System, Inc. (NASDAQ:COLB)

Angel Oak Capital Advisors LLC purchased a new position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the fourth quarter, HoldingsChannel reports. The fund purchased 31,000 shares of the financial services provider’s stock, valued at approximately $837,000. Columbia Banking System accounts for approximately 1.1% of Angel Oak Capital Advisors LLC’s holdings, making the stock its 17th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COLB. Wellington Management Group LLP increased its holdings in shares of Columbia Banking System by 31.9% in the third quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider’s stock worth $173,873,000 after acquiring an additional 1,611,563 shares in the last quarter. Basswood Capital Management L.L.C. bought a new stake in Columbia Banking System during the 3rd quarter worth approximately $26,593,000. Holocene Advisors LP increased its stake in Columbia Banking System by 1,001.8% during the 3rd quarter. Holocene Advisors LP now owns 962,330 shares of the financial services provider’s stock worth $25,126,000 after purchasing an additional 874,986 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Columbia Banking System by 33.1% during the 3rd quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock worth $59,099,000 after buying an additional 562,467 shares during the period. Finally, Stieven Capital Advisors L.P. boosted its holdings in shares of Columbia Banking System by 98.6% in the third quarter. Stieven Capital Advisors L.P. now owns 944,332 shares of the financial services provider’s stock valued at $24,657,000 after buying an additional 468,832 shares during the period. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Trading Down 0.2 %

NASDAQ COLB opened at $27.41 on Tuesday. The company has a market cap of $5.74 billion, a PE ratio of 10.79 and a beta of 0.66. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $32.85. The stock has a 50 day moving average of $27.82 and a 200-day moving average of $27.21.

Columbia Banking System (NASDAQ:COLB) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.71 EPS 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, sell-side analysts predict that Columbia Banking System, Inc. will post 2.72 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Banking System’s dividend payout ratio (DPR) is presently 56.69%.

Analyst Ratings Changes

A number of equities research analysts recently commented on COLB shares. Citigroup dropped their price objective on shares of Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. UBS Group began coverage on Columbia Banking System in a report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price target on the stock. Barclays upped their price objective on 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. Truist Financial lifted their target price on Columbia Banking System from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company raised Columbia Banking System from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System presently has an average rating of “Hold” and a consensus price target of $30.38.

Columbia Banking System Company Profile

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.