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Piper Sandler maintained its Overweight rating and $30.00 price target on Columbia Banking System (NASDAQ:COLB) following investor meetings in Boston last week. The stock, currently trading at $22.77, appears undervalued according to InvestingPro analysis, which also highlights the bank’s impressive 6.37% dividend yield and 29-year streak of consistent dividend payments.
The investment firm hosted Columbia Banking System’s CEO Clint Stein, Umpqua Bank’s President of Consumer Banking Chris Merrywell, and EVP, Chief Strategy & Innovation Officer Aaron Deer for discussions with investors.
Piper Sandler noted that Columbia Banking System’s pending acquisition of Pacific Premier Bancorp (NASDAQ:PPBI) is moving forward on schedule, according to information shared during these meetings.
The research firm expressed encouragement about Columbia Banking System’s stated intention to avoid further merger and acquisition activity for at least two years, possibly longer, as the company focuses on integrating PPBI.
Columbia Banking System plans to concentrate on successfully completing the PPBI integration while pursuing market share growth, talent acquisition, and delivering consistent performance results, according to Piper Sandler’s report.
In other recent news, Columbia Banking System reported its first-quarter 2025 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.67 and revenue of $491.37 million. The company announced a significant acquisition of Pacific Premier Bancorp, valued at approximately $2 billion, which is expected to expand its presence in Southern California. Despite the positive earnings, Citi analyst Benjamin Gerlinger adjusted the price target for Columbia Banking System to $24, maintaining a Neutral rating due to integration challenges and commercial real estate concentration concerns. Jefferies also initiated coverage with a Hold rating and a $27 price target, citing potential short-term impacts from the acquisition. Columbia Banking System recently held its annual shareholder meeting, where all proposed measures, including the election of directors and executive compensation, were approved. DA Davidson upgraded Pacific Premier Bancorp’s stock to Neutral, reflecting the merger’s potential benefits for shareholders. These developments highlight the strategic moves and market reactions surrounding Columbia Banking System’s recent activities.
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