Stephens analyst Andrew Terrell lowered the firm’s price target on Columbia Banking to $30 from $34 and keeps an Overweight rating on the shares. Results were "noisy" due to the close of the Umpqua Holdings merger, but the firm remains favorable on Columbia given the marked position of the balance sheet translates to significant liquidity and it sees the pro-forma balance sheet being in a "significantly stronger position" to handle industry-wide deposit pressures.
Published first on TheFly
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Read More on COLB:
- Columbia Banking price target raised to $24 from $23 at Wedbush
- Columbia Banking reports Q1 operating EPS 46c, consensus 60c
- COLUMBIA BANKING SYSTEM, INC. REPORTS FIRST QUARTER 2023 RESULTS
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- Columbia Banking upgraded to Strong Buy from Outperform at Raymond James
