Columbia Banking price target raised to $37 from $35 at Stephens

Stephens analyst Andrew Terrell raised the firm’s price target on Columbia Banking (COLB) to $37 from $35 and keeps an Overweight rating on the shares after the company’s Q4 operating EPS beat the Street’s and firm’s estimates. The firm continues to think valuation is “overly discounted” and notes that repurchases should continue through the year following about $100M of buybacks in Q4.