Columbia Banking price target lowered to $27 from $32 at RBC Capital

RBC Capital lowered the firm’s price target on Columbia Banking (COLB) to $27 from $32 and keeps a Sector Perform rating on the shares after its Q1 results. The firm is adjusting its model to reflect the Pacific Premier Bancorp (PPBI) merger but also notes that this was a stable quarter with slightly lower loan balances, margin and net interest income, adding that the bank’s deposit growth was solid, the analyst tells investors in a research note.