Columbia Banking downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo analyst Timur Braziler downgraded Columbia Banking (COLB) to Equal Weight from Overweight with a price target of $27, down from $29, as net interest income trends are likely weaker near-term from deposit mix and a shrinking balance sheet. Wells looks for the next potential catalyst to come mid-2026, after the Pacific Premier (PPBI) deal is closed and integrated, and expects shares to remain range-bound until then.