Janus Henderson Group PLC Has $3.67 Million Holdings in Columbia Banking System, Inc. $COLB

Key Points

• Janus Henderson cut its Columbia Banking System stake by 78.3% in the first quarter, selling 483,723 shares and retaining 133,901 shares worth approximately $3.67 million. Institutional investors still own 92.53% of the stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $33.19 versus the reported share price of $31.24.
• Columbia Banking System beat quarterly earnings expectations with EPS of $0.76 versus $0.73 forecast, while reporting $677 million in revenue. The company also pays a quarterly dividend of $0.37, representing a 4.7% annualized yield.

Janus Henderson Group PLC trimmed its stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 78.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,901 shares of the financial services provider's stock after selling 483,723 shares during the period. Janus Henderson Group PLC's holdings in Columbia Banking System were worth $3,674,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of COLB. Arete Wealth Advisors LLC acquired a new position in Columbia Banking System during the 1st quarter worth about $396,000. Amundi raised its position in shares of Columbia Banking System by 67.0% during the first quarter. Amundi now owns 67,135 shares of the financial services provider's stock worth $1,842,000 after acquiring an additional 26,924 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Columbia Banking System by 5.4% in the first quarter. EverSource Wealth Advisors LLC now owns 20,287 shares of the financial services provider's stock worth $556,000 after acquiring an additional 1,041 shares during the period. California State Teachers Retirement System lifted its stake in shares of Columbia Banking System by 26.8% in the first quarter. California State Teachers Retirement System now owns 359,143 shares of the financial services provider's stock worth $9,851,000 after acquiring an additional 75,915 shares during the period. Finally, Rhino Investment Partners Inc bought a new stake in Columbia Banking System in the first quarter valued at approximately $6,578,000. 92.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on COLB shares. Stephens boosted their price target on shares of Columbia Banking System from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Zacks Research downgraded shares of Columbia Banking System from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Royal Bank Of Canada boosted their target price on shares of Columbia Banking System from $34.00 to $35.00 and gave the company a "sector perform" rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Wednesday, July 1st. Finally, Fundamental Research set a $35.00 price target on Columbia Banking System in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $33.19.

Insider Buying and Selling

In related news, CMO Devine David Moore sold 3,872 shares of the business's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the completion of the sale, the chief marketing officer directly owned 18,636 shares of the company's stock, valued at $554,793.72. The trade was a 17.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.57% of the stock is owned by insiders.

Columbia Banking System Stock Up 0.7%

Columbia Banking System stock opened at $31.24 on Friday. Columbia Banking System, Inc. has a 12-month low of $23.66 and a 12-month high of $33.67. The firm's fifty day moving average is $31.32 and its 200 day moving average is $29.87. The company has a market capitalization of $8.84 billion, a PE ratio of 12.45, a PEG ratio of 3.07 and a beta of 0.63.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.03. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. The business had revenue of $677.00 million during the quarter, compared to analysts' expectations of $687.40 million. During the same period last year, the company posted $0.76 earnings per share. Sell-side analysts expect that Columbia Banking System, Inc. will post 3.03 EPS for the current fiscal year.

Columbia Banking System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.37 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. Columbia Banking System's dividend payout ratio (DPR) is currently 58.96%.

Columbia Banking System Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company's offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.

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