Columbia Banking price target lowered to $33 from $37 at RBC Capital

RBC Capital analyst Jon Arfstrom lowered the firm’s price target on Columbia Banking (COLB) to $33 from $37 and keeps a Sector Perform rating on the shares after its Q4 earnings miss. The company’s fundamental trends showed mostly stable loan balances, manageable deposit trends, an improved margin, and healthy credit, the analyst tells investors in a research note. The firm adds that Columbia’s merger with Umpqua (UMPQ) merger is not without execution risk given the relative size of the transaction, but the potential of the combined organization is "very attractive".