Janus Henderson Group PLC Sells 766,786 Shares of Columbia Banking System, Inc. (NASDAQ:COLB)

Janus Henderson Group PLC cut its stake in Columbia Banking System, Inc. (NASDAQ:COLB) by 33.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,496,646 shares of the financial services provider’s stock after selling 766,786 shares during the period. Janus Henderson Group PLC’s holdings in Columbia Banking System were worth $40,424,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. boosted its holdings in Columbia Banking System by 0.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,625,834 shares of the financial services provider’s stock valued at $341,024,000 after acquiring an additional 33,477 shares during the last quarter. American Century Companies Inc. boosted its holdings in Columbia Banking System by 0.8% in the fourth quarter. American Century Companies Inc. now owns 7,602,571 shares of the financial services provider’s stock valued at $205,345,000 after acquiring an additional 61,242 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Columbia Banking System by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,315,896 shares of the financial services provider’s stock valued at $197,602,000 after acquiring an additional 206,643 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Columbia Banking System by 10.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,514,816 shares of the financial services provider’s stock worth $148,956,000 after buying an additional 512,542 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Columbia Banking System by 9.3% during the 4th quarter. Invesco Ltd. now owns 2,456,964 shares of the financial services provider’s stock worth $66,363,000 after buying an additional 209,774 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Columbia Banking System Stock Down 1.7%

Shares of COLB opened at $25.17 on Thursday. Columbia Banking System, Inc. has a 12-month low of $18.11 and a 12-month high of $32.85. The business’s fifty day moving average is $23.42 and its 200 day moving average is $26.70. The stock has a market cap of $5.29 billion, a P/E ratio of 9.91 and a beta of 0.59.

Columbia Banking System (NASDAQ:COLB) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. The company had revenue of $481.92 million for the quarter, compared to analysts’ expectations of $482.86 million. During the same period last year, the business earned $0.65 EPS. Columbia Banking System’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts expect that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend was Friday, February 28th. Columbia Banking System’s dividend payout ratio (DPR) is presently 61.02%.

Insider Buying and Selling at Columbia Banking System

In other Columbia Banking System news, VP Torran B. Nixon sold 4,481 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total transaction of $116,461.19. Following the transaction, the vice president now directly owns 104,869 shares in the company, valued at approximately $2,725,545.31. This trade represents a 4.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on COLB shares. Citigroup cut their price target on Columbia Banking System from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Barclays increased their price target on Columbia Banking System from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Wells Fargo & Company increased their price target on Columbia Banking System from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Piper Sandler cut their price target on Columbia Banking System from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Finally, Stephens cut their price target on Columbia Banking System from $33.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Columbia Banking System has a consensus rating of “Hold” and a consensus target price of $29.85.

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.