Columbia Banking price target raised to $25 from $20 at Wedbush

Wedbush raised the firm’s price target on Columbia Banking to $25 from $20 and keeps a Neutral rating on the shares. Columbia Banking System reported an in-line quarter on a core basis and guidance was mostly reiterated, the analyst tells investors in a research note. Deposit growth was below the firm’s forecast driven by noninterest bearing deposit outflows, NIM was better than expected, and credit quality was mixed as nonperforming assets moved up sequentially, while net charge-offs and short term delinquencies declined quarter over quarter, the firm says.