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

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

A number of other hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its stake in Columbia Banking System by 31.9% in the 3rd quarter. Wellington Management Group LLP now owns 6,659,255 shares of the financial services provider's stock valued at $173,873,000 after buying an additional 1,611,563 shares during the last quarter. Basswood Capital Management L.L.C. bought a new position in shares of Columbia Banking System in the 3rd quarter valued at about $26,593,000. Holocene Advisors LP increased its position in shares of Columbia Banking System by 1,001.8% in the third quarter. Holocene Advisors LP now owns 962,330 shares of the financial services provider's stock valued at $25,126,000 after acquiring an additional 874,986 shares during the last quarter. Janus Henderson Group PLC raised its holdings 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. Finally, Stieven Capital Advisors L.P. boosted its position in Columbia Banking System by 98.6% during 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 purchasing an additional 468,832 shares during the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Stock Performance

NASDAQ:COLB traded down $0.53 during mid-day trading on Friday, hitting $26.51. 1,033,301 shares of the stock were exchanged, compared to its average volume of 1,319,629. The firm's 50-day simple moving average is $27.63 and its 200 day simple moving average is $27.26. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.44 and a beta of 0.66. 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 - Get Free Report) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share (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%. On average, analysts predict that Columbia Banking System, Inc. will post 2.71 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend is Friday, February 28th. Columbia Banking System's dividend payout ratio (DPR) is presently 56.69%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on 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. Truist Financial upped their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods decreased their price objective on shares of Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating for the company in a research report on Friday, January 24th. Wells Fargo & Company upgraded shares of Columbia Banking System from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $33.00 to $35.00 in a research note on Monday, January 6th. Finally, UBS Group began coverage on Columbia Banking System in a report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.