Keefe, Bruyette & Woods Upgrades Columbia Banking System (COLB) to Outperform
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Keefe, Bruyette & Woods upgrades Columbia Banking System (Nasdaq: COLB) from Market Perform to Outperform. Price target increased to $12.
Keefe analyst says, "We are upgrading COLB to Outperform (from MP) based on valuation & our expectation for an accretive roll-up strategy that could only enhance what we consider to be one of the strongest franchises in the Pacific Northwest. COLB has made strides in working down construction balances from the peak & a limited reliance on construction historically suggests COLB should be able to restore normalized EPS quicker than peers."
To see more analyst ratings on COLB Click Here.
Columbia Banking System, Inc. is a bank holding company whose wholly owned banking subsidiaries, Columbia State Bank (Columbia Bank) and Bank of Astoria (Astoria), conduct full-service commercial banking business in the states of Washington and Oregon, respectively.
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