Columbia Banking price target raised to $26 from $25 at DA Davidson

DA Davidson raised the firm’s price target on Columbia Banking (COLB) to $26 from $25 and keeps a Neutral rating on the shares. The firm’s recent discussion with the management solidified its view that the bank’s main strategy in the near term is optimizing the balance sheet but not necessarily driving for growth, the analyst tells investors in a research note. The firm is positive on the bank’s “healthier revenue stream” but cuts its FY26 EPS view by 10c to $3.00.