Mackenzie Financial Corp Has $10.94 Million Holdings in Columbia Banking System, Inc. (NASDAQ:COLB)

Mackenzie Financial Corp lifted its stake in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 4,089.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 405,022 shares of the financial services provider's stock after purchasing an additional 395,355 shares during the quarter. Mackenzie Financial Corp owned about 0.19% of Columbia Banking System worth $10,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new stake in Columbia Banking System in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in Columbia Banking System during the 4th quarter worth about $32,000. Meeder Asset Management Inc. acquired a new position in shares of Columbia Banking System in the 4th quarter valued at $42,000. Kapitalo Investimentos Ltda acquired a new position in shares of Columbia Banking System in the 4th quarter valued at $42,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Columbia Banking System by 62.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,038 shares of the financial services provider's stock valued at $55,000 after buying an additional 780 shares in the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Columbia Banking System from $26.00 to $29.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Jefferies Financial Group started coverage on Columbia Banking System in a report on Wednesday, May 21st. They issued a "hold" rating and a $27.00 price target for the company. Wall Street Zen initiated coverage on Columbia Banking System in a research note on Thursday, May 22nd. They issued a "hold" rating on the stock. Barclays increased 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. Finally, Keefe, Bruyette & Woods reduced their target price on Columbia Banking System from $33.00 to $30.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Eleven 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 stock presently has an average rating of "Hold" and an average target price of $29.64.

Insider Activity at Columbia Banking System

In related news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction on 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 transaction, the vice president now owns 104,869 shares in the company, valued at approximately $2,725,545.31. This represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is owned by corporate insiders.

Columbia Banking System Trading Down 1.8%

COLB stock traded down $0.43 during trading on Friday, hitting $23.43. The company had a trading volume of 2,246,230 shares, compared to its average volume of 1,786,254. The company has a fifty day moving average price of $23.32 and a two-hundred day moving average price of $26.30. Columbia Banking System, Inc. has a fifty-two week low of $18.20 and a fifty-two week high of $32.85. The company has a market cap of $4.93 billion, a P/E ratio of 9.22 and a beta of 0.59.

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 for the quarter, topping analysts' consensus estimates 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 company had revenue of $481.92 million during the quarter, compared to the consensus estimate of $482.86 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The company's revenue was up 3.7% on a year-over-year basis. On average, analysts expect that Columbia Banking System, Inc. will post 2.71 earnings per share for the current year.

Columbia Banking System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 6.15%. Columbia Banking System's payout ratio is currently 61.02%.

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.