Columbia Banking System Stock Hits New 52-Week High (COLB)

NEW YORK ( TheStreet) -- Columbia Banking System (Nasdaq: COLB) hit a new 52-week high Wednesday as it is currently trading at $21.53, above its previous 52-week high of $21.51 with 22,132 shares traded as of 10:49 a.m. ET. Average volume has been 222,600 shares over the past 30 days.

Columbia Banking System has a market cap of $825.2 million and is part of the financial sector and banking industry. Shares are up 8.4% year to date as of the close of trading on Tuesday.

Columbia Banking System, Inc. operates as the bank holding company for Columbia State Bank, which provides a range of banking products and services to small and medium-sized businesses, professionals, and individuals in the states of Washington and Oregon. The company has a P/E ratio of 17.9, above the average banking industry P/E ratio of 17.6 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Columbia Banking System as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Columbia Banking System Ratings Report.

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