Columbia Banking price target raised to $32.50 from $30 at DA Davidson

DA Davidson raised the firm’s price target on Columbia Banking (COLB) to $32.50 from $30 and keeps a Neutral rating on the shares after its Q4 earnings beat. The firm is boosting its EPS forecasts propelled by a recharged net interest margin and a committed buyback plan – a meaningful change to what had been a no growth, limited capital return story, the analyst tells investors in a research note.