Truist Financial analyst Brandon King maintains $Columbia Banking System (COLB.US)$ with a hold rating, and adjusts the target price from $28 to $30.
According to TipRanks data, the analyst has a success rate of 66.5% and a total average return of 14.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Columbia Banking System (COLB.US)$'s main analysts recently are as follows:
The bank's recent quarterly report has indicated positive developments, including early signs of growth regarding new market expansion and the impact of recent strategic hires.
Columbia Banking delivered a quarter that exceeded expectations, and their guidance was largely reaffirmed. Despite deposit growth falling short of projections, a seasonal uptick in noninterest bearing deposits coupled with robust growth in customer interest bearing deposits enabled the firm to diminish brokered deposits by a fifth and also retire some wholesale borrowings.
Following the quarterly results, there is an observation that deposit repricing is contributing to the upward trend in net interest income. However, this trend may encounter challenges when the funding beta reaches its peak, coupled with a decrease in accretion income and subdued balance sheet expansion.
Note:
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