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Columbia Banking price target raised to $35 from $32 at Piper Sandler

Piper Sandler raised the firm’s price target on Columbia Banking (COLB) to $35 from $32 and keeps an Overweight rating on the shares. The firm believes ongoing expense control, balance sheet remixing, a likely buyback, and ongoing comfort with what Piper views as a very clean, straightforward, accretive acquisition of Pacific Premier (PPBI) should help close its valuation discount.

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