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Investing.com - Piper Sandler reduced its price target on Columbia Banking System (NASDAQ:COLB) to $33.00 from $35.00 on Monday, while maintaining an Overweight rating on the stock. The new target suggests potential upside from the current price of $26.80, and aligns with InvestingPro data showing the stock is currently undervalued based on its Fair Value assessment.
The price target adjustment follows Columbia Banking System’s recent financial results and guidance that indicates a smaller balance sheet and lower net interest margin (NIM) going forward.
Piper Sandler noted that these negative factors are partially offset by improved non-interest expense (NIE) and the company’s share buyback program, which the firm described as "larger" in its analysis. The bank offers a substantial 5.37% dividend yield and has maintained dividend payments for 29 consecutive years, according to InvestingPro data.
The research firm trimmed its earnings per share (EPS) estimates for Columbia Banking to $2.29 for 2025, $3.00 for 2026, and $3.30 for 2027, down from previous projections of $2.54, $3.16, and $3.36 respectively.
Despite the reduced price target, Piper Sandler maintained its premium valuation for Columbia Banking at 11.0x its 2026 estimated EPS, citing the bank’s "above average ROA" and noting that the pending Pacific Premier Bancorp (PPBI) acquisition is expected to be 12% accretive to earnings. The bank currently trades at a P/E ratio of 12.16 and has remained profitable over the last twelve months with a return on assets of 0.8%.
In other recent news, Columbia Banking System Inc. reported better-than-expected earnings for the third quarter of 2025. The company achieved an operating earnings per share (EPS) of $0.85, exceeding the analysts’ forecast of $0.69. Despite this positive earnings result, the company’s stock experienced a minor decline in value. Analysts had projected a lower EPS, making the actual results a surprise to investors. The earnings announcement reflects Columbia Banking’s financial performance during the quarter. These developments are part of the recent updates concerning the company. The earnings report is a key indicator for investors assessing the company’s financial health.
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