Janus Henderson Group PLC Raises Stock Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Janus Henderson Group PLC raised its holdings in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 33.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,263,432 shares of the financial services provider's stock after purchasing an additional 562,467 shares during the quarter. Janus Henderson Group PLC owned 1.08% of Columbia Banking System worth $59,099,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in shares of Columbia Banking System during the 2nd quarter worth about $33,000. GAMMA Investing LLC boosted its position in Columbia Banking System by 144.0% during the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider's stock worth $47,000 after purchasing an additional 1,387 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 1,380 shares during the period. Hexagon Capital Partners LLC grew its holdings in Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 4,115 shares during the period. Finally, Signaturefd LLC increased its position in shares of Columbia Banking System by 44.1% in the second quarter. Signaturefd LLC now owns 5,058 shares of the financial services provider's stock valued at $101,000 after buying an additional 1,548 shares in the last quarter. 92.53% of the stock is owned by hedge funds and other institutional investors.

Columbia Banking System Trading Up 0.1 %

NASDAQ COLB traded up $0.04 on Friday, reaching $30.19. 918,074 shares of the company were exchanged, compared to its average volume of 2,203,508. The business's fifty day moving average price is $28.77 and its 200 day moving average price is $24.46. The stock has a market capitalization of $6.33 billion, a P/E ratio of 13.05 and a beta of 0.64. 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 quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. Columbia Banking System had a net margin of 16.15% and a return on equity of 10.13%. The firm had revenue of $765.06 million for the quarter, compared to analysts' expectations of $478.80 million. During the same quarter in the previous year, the company posted $0.79 EPS. Equities research analysts forecast that Columbia Banking System, Inc. will post 2.63 earnings per share for the current year.

Columbia Banking System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.36 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 4.77%. Columbia Banking System's dividend payout ratio (DPR) is 62.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on COLB shares. Truist Financial lifted their price target on shares of Columbia Banking System from $28.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, October 28th. Wedbush boosted their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Barclays boosted their price target on shares of Columbia Banking System from $29.00 to $33.00 and gave the stock an "equal weight" rating in a report on Thursday. Raymond James boosted their price target on shares of Columbia Banking System from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Columbia Banking System from $30.00 to $34.00 and gave the stock a "market perform" rating in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $28.19.

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.