Columbia Banking price target lowered to $25 from $28 at RBC Capital

RBC Capital analyst Jon Arfstrom lowered the firm’s price target on Columbia Banking to $25 from $28 and keeps a Sector Perform rating on the shares. 2023 was a transformational year for Columbia with the Umpqua merger close and successful integration, creating a formidable Pacific Northwest regional bank, but that being said, the higher-cost funding environment has driven headwinds to the margin outlook, the analyst tells investors in a research note.