Truist lowered the firm’s price target on Columbia Banking to $20 from $21 and keeps a Hold rating on the shares as part of a broader research note recapping Q3 results for Community and Regional Banks. The company’s capital levels are set to improve over the next several quarters, providing capital return optionality sometime in the second half of 2024 and 2025, though that said, Columbia Banking shares remain close to fairly valued at 6.2-times the firm’s expected forward earnings, the analyst tells investors in a research note.
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