On Oct 25, major Wall Street analysts update their ratings for $Columbia Banking System (COLB.US)$, with price targets ranging from $29 to $35.
Barclays analyst Jared Shaw maintains with a hold rating, and adjusts the target price from $24 to $29.
Wells Fargo analyst Timur Braziler maintains with a hold rating, and maintains the target price at $30.
RBC Capital analyst Jon Arfstrom maintains with a hold rating, and adjusts the target price from $29 to $31.
Wedbush analyst David Chiaverini maintains with a buy rating, and maintains the target price at $35.
Furthermore, according to the comprehensive report, the opinions of $Columbia Banking System (COLB.US)$'s main analysts recently are as follows:
The firm observes initial positive signs in the bank's recent market expansion efforts and the addition of new personnel.
Columbia Banking's recent financial results surpassed expectations, and their guidance was largely reaffirmed. Despite deposit growth not meeting projections, a seasonal uptick in noninterest bearing deposits coupled with substantial growth in customer interest bearing deposits enabled the bank to decrease its reliance on brokered deposits by one-fifth and additionally retire a segment of its wholesale borrowings.
Following the quarterly results of Columbia Banking, it's observed that deposit repricing is contributing to the rise in net interest income. However, the outlook may become more challenging when the peak of funding beta is reached, coupled with a decrease in accretion income and subdued balance sheet expansion.
The company's Q3 performance was strong with effective execution enhancing the core financials. Recent initiatives to boost deposits, a focus on cost management, and stable operational trends are contributing to a positive and steady outlook.
Here are the latest investment ratings and price targets for $Columbia Banking System (COLB.US)$ from 4 analysts:
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