Columbia Banking System Reaches New 52-Week High (COLB)

NEW YORK ( TheStreet) -- Columbia Banking System (Nasdaq: COLB) hit a new 52-week high Tuesday as it is currently trading at $22.31, above its previous 52-week high of $22.25 with 251,805 shares traded as of 3:30 p.m. ET. Average volume has been 224,100 shares over the past 30 days.

Columbia Banking System has a market cap of $844.6 million and is part of the financial sector and banking industry. Shares are up 11% year to date as of the close of trading on Monday.

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 17.7, below the average banking industry P/E ratio of 18 and equal to 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 increase in stock price during the past year. 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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