Janus Henderson Group PLC Has $40.42 Million Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Janus Henderson Group PLC trimmed its position in shares of Columbia Banking System, Inc. (NASDAQ:COLB) by 33.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 owned 0.71% of Columbia Banking System worth $40,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in COLB. T. Rowe Price Investment Management Inc. boosted its position in Columbia Banking System by 0.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,625,834 shares of the financial services provider’s stock worth $341,024,000 after purchasing an additional 33,477 shares during the period. American Century Companies Inc. boosted its position in shares of 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 period. Charles Schwab Investment Management Inc. boosted its position in shares of 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 period. Dimensional Fund Advisors LP boosted its position in shares of Columbia Banking System by 10.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,514,816 shares of the financial services provider’s stock valued at $148,956,000 after acquiring an additional 512,542 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Columbia Banking System by 9.3% in the fourth quarter. Invesco Ltd. now owns 2,456,964 shares of the financial services provider’s stock valued at $66,363,000 after acquiring an additional 209,774 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Torran B. Nixon sold 4,481 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the transaction, the vice president now owns 104,869 shares of the company’s stock, valued at $2,725,545.31. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.68% of the stock is currently owned by insiders.

Columbia Banking System Trading Down 1.7%

Shares of NASDAQ COLB opened at $25.17 on Thursday. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 9.91 and a beta of 0.59. Columbia Banking System, Inc. has a 12 month low of $18.11 and a 12 month high of $32.85. The stock has a 50-day moving average price of $23.42 and a two-hundred day moving average price of $26.70.

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

Columbia Banking System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.72%. The ex-dividend date was Friday, February 28th. Columbia Banking System’s dividend payout ratio is currently 61.02%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COLB. StockNews.com began coverage on shares of Columbia Banking System in a research report on Wednesday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods reduced their target price on shares of Columbia Banking System from $33.00 to $30.00 and set a “market perform” rating for the company in a research report on Thursday, April 24th. Barclays boosted their target price on shares of Columbia Banking System from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. DA Davidson set a $25.00 price objective on shares of Columbia Banking System and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Finally, Piper Sandler cut their price objective on shares of Columbia Banking System from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $29.85.

About Columbia Banking System

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.