Stephens upgraded Columbia Banking (COLB) to Overweight from Equal Weight with an unchanged price target of $30 following a 7.1% pre-provision net revenue beat in Q2 that the analyst calls “one of the strongest in our entire coverage list.” The firm sees “solid” net interest margin upside relative to consensus and believes capital accretion post Pacific Premier (PPBI) deal-close will be “robust,” which it thinks opens the door for capital return potential into 2026.
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