S&P SmallCap 600 constituent Columbia Banking System (COLB) will replace Umpqua Holdings Corp. (UMPQ) in the S&P MidCap 400, and Verra Mobility Corp. (VRRM) will replace Columbia Banking System in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, March 1. Columbia Banking System is acquiring Umpqua Holdings in a deal expected to be completed soon, pending final closing conditions. Post-merger, Columbia Banking System will have a market capitalization more representative of the mid-cap market space.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on COLB:
- Columbia Banking price target lowered to $33 from $37 at RBC Capital
- Columbia Banking System Announces Fourth Quarter and Full Year 2022 Results and Quarterly Cash Dividend
- Columbia Banking reports Q4 EPS 88c, consensus 89c
- Columbia Banking System and Umpqua Holdings Corporation Announce FDIC Approval and Expected Closing Timeline for Combination
- Columbia Banking and Umpqua announce FDIC approval of combination