Angel Oak Capital Advisors LLC Makes New $837,000 Investment in Columbia Banking System, Inc. (NASDAQ:COLB)

Angel Oak Capital Advisors LLC acquired a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 31,000 shares of the financial services provider’s stock, valued at approximately $837,000. Columbia Banking System makes up 1.1% of Angel Oak Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest position.

Several other large investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Columbia Banking System by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,109,253 shares of the financial services provider’s stock worth $185,623,000 after buying an additional 178,327 shares during the period. Wellington Management Group LLP raised its stake in Columbia Banking System by 31.9% during 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. Janus Henderson Group PLC raised its stake in Columbia Banking System by 33.1% during the third quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider’s stock worth $59,099,000 after acquiring an additional 562,467 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Columbia Banking System by 3.4% during the third quarter. Fisher Asset Management LLC now owns 1,614,940 shares of the financial services provider’s stock valued at $42,166,000 after acquiring an additional 53,847 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of Columbia Banking System by 14.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,534,798 shares of the financial services provider’s stock valued at $40,074,000 after purchasing an additional 190,311 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Price Performance

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

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 EPS for the quarter, topping 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%. Equities research analysts anticipate that Columbia Banking System, Inc. will post 2.72 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.44 dividend on an annualized basis and a yield of 5.25%. Columbia Banking System’s dividend payout ratio is presently 56.69%.

Analyst Ratings Changes

A number of brokerages recently issued reports on COLB. Wells Fargo & Company upgraded shares of Columbia Banking System from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. Truist Financial upped their price objective on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. cut their target price on shares of Columbia Banking System from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Wedbush lifted their price objective on Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada upped their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.38.

Columbia Banking System 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.