18,066 Shares in Columbia Banking System, Inc. (NASDAQ:COLB) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp purchased a new stake in Columbia Banking System, Inc. (NASDAQ:COLB) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,066 shares of the financial services provider’s stock, valued at approximately $482,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of Columbia Banking System by 1,506.8% during the third quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,326 shares in the last quarter. First Pacific Financial purchased a new stake in Columbia Banking System during the 4th quarter worth about $40,000. Global Retirement Partners LLC boosted its position in shares of Columbia Banking System by 27.2% during the 3rd quarter. Global Retirement Partners LLC now owns 2,489 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 533 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Columbia Banking System in the 4th quarter valued at about $59,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Columbia Banking System during the 3rd quarter worth about $78,000. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Clint Stein bought 9,500 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was bought at an average cost of $20.96 per share, with a total value of $199,120.00. Following the completion of the acquisition, the chief executive officer now owns 165,684 shares in the company, valued at approximately $3,472,736.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Christopher Merrywell purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was acquired at an average price of $21.09 per share, with a total value of $105,450.00. Following the purchase, the vice president now directly owns 50,727 shares of the company’s stock, valued at approximately $1,069,832.43. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Clint Stein acquired 9,500 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was acquired at an average cost of $20.96 per share, for a total transaction of $199,120.00. Following the completion of the purchase, the chief executive officer now owns 165,684 shares in the company, valued at approximately $3,472,736.64. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 35,133 shares of company stock valued at $719,737. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on COLB shares. Wells Fargo & Company lowered their price target on Columbia Banking System from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. Piper Sandler dropped their target price on shares of Columbia Banking System from $36.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Keefe, Bruyette & Woods cut their price target on shares of Columbia Banking System from $25.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. Barclays upped their price objective on shares of Columbia Banking System from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, UBS Group cut their target price on Columbia Banking System from $28.00 to $21.50 and set a “neutral” rating on the stock in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Columbia Banking System has an average rating of “Hold” and a consensus target price of $22.19.

Columbia Banking System Stock Up 0.6 %

Shares of COLB stock opened at $19.12 on Friday. Columbia Banking System, Inc. has a 52-week low of $17.08 and a 52-week high of $28.11. The stock’s 50-day moving average price is $18.51 and its 200 day moving average price is $21.14. The stock has a market capitalization of $4.00 billion, a PE ratio of 11.59 and a beta of 0.71.

Columbia Banking System (NASDAQ:COLB) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.12. Columbia Banking System had a return on equity of 10.27% and a net margin of 12.71%. The company had revenue of $473.72 million for the quarter, compared to analysts’ expectations of $480.39 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts expect that Columbia Banking System, Inc. will post 2.25 earnings per share for the current fiscal year.

Columbia Banking System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 23rd were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.53%. Columbia Banking System’s dividend payout ratio is presently 87.27%.

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.