Overview

• Columbia Banking System reported weaker-than-expected Q4 financial results, with adjusted earnings of 44 cents per share, missing market estimates of 79 cents per share.
• The company's quarterly sales came in at $519.16 million, falling short of expectations of $526.68 million.
• Following the announcement, Columbia Banking shares fell 22.3% to trade at $19.89.
• Several analysts have subsequently cut their price targets on Columbia Banking System.
• For the year, the company reported a profit of $348.7 million, or $1.78 per share, with a revenue of $2 billion.