Janus Henderson Group PLC Lowers Stake in Columbia Banking System, Inc. (NASDAQ:COLB)

Janus Henderson Group PLC lessened its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 33.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,496,646 shares of the financial services provider's stock after selling 766,786 shares during the quarter. Janus Henderson Group PLC owned 0.71% of Columbia Banking System worth $40,424,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in Columbia Banking System by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider's stock worth $1,025,000 after acquiring an additional 544 shares during the period. Wedmont Private Capital purchased a new position in shares of Columbia Banking System in the fourth quarter worth about $209,000. Oak Thistle LLC acquired a new stake in shares of Columbia Banking System during the fourth quarter worth about $1,784,000. ZWJ Investment Counsel Inc. boosted its position in Columbia Banking System by 3.2% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 132,136 shares of the financial services provider's stock valued at $3,569,000 after buying an additional 4,063 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Columbia Banking System by 1.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 49,684 shares of the financial services provider's stock valued at $1,342,000 after buying an additional 621 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Columbia Banking System Price Performance

NASDAQ COLB traded down $0.08 on Tuesday, hitting $24.81. The company had a trading volume of 291,819 shares, compared to its average volume of 1,770,839. The company's fifty day moving average price is $23.47 and its 200-day moving average price is $26.59. The company has a market capitalization of $5.22 billion, a PE ratio of 9.77 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.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. Columbia Banking System had a net margin of 17.99% and a return on equity of 11.21%. The business had revenue of $481.92 million for the quarter, compared to analyst estimates of $482.86 million. During the same quarter last year, the business earned $0.65 earnings per share. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Columbia Banking System, Inc. will post 2.71 EPS for the current year.

Columbia Banking System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, May 30th. This represents a $1.44 annualized dividend and a yield of 5.80%. Columbia Banking System's dividend payout ratio (DPR) is currently 61.02%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COLB. Barclays lifted their price objective on shares of Columbia Banking System from $27.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Royal Bank of Canada cut their price target on Columbia Banking System from $32.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Piper Sandler reduced their price objective on Columbia Banking System from $32.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Citigroup lowered their target price on Columbia Banking System from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their target price on Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $29.85.

Insider Buying and Selling at Columbia Banking System

In related news, VP Torran B. Nixon sold 4,481 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $25.99, for a total transaction of $116,461.19. Following the completion of the sale, the vice president now owns 104,869 shares of the company's stock, valued at approximately $2,725,545.31. This 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. Insiders own 0.68% of the company's stock.

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.