Columbia Banking price target raised to $32 from $30 at Piper Sandler

Piper Sandler raised the firm’s price target on Columbia Banking (COLB) to $32 from $30 and keeps an Overweight rating on the shares. The firm believes ongoing execution of expense control, balance sheet remix that improves the overall quality, and ongoing comfort with what it views as a clean, straightforward, accretive acquisition of PPBI should help close its relative valuation discount.