As previously reported, Truist analyst Brandon King initiated coverage of Columbia Banking (COLB) with a Hold rating and $33 price target following its completed merger of equals transaction with Umpqua Holdings Corporation (UMPQ). The analyst states that the financial and strategic merits of the merger are compelling, but also warns that there will likely be M&A noise and elevated execution risk discounted in the stock medium term. Truist still contends that the combination allows the two organizations to make investments that will improve the combined bank’s product set, digital platforms, and talent while enhancing long term profitability however.
Published first on TheFly
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