Columbia Banking System (COLB)
NASDAQ:COLB
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Columbia Banking System
(NASDAQ:COLB)
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Rating:74Outperform
Price Target:
$32.00
â–²(8.00% Upside)
Action:ReiteratedDate:04/24/26
The score is driven primarily by solid underlying financial performance and a strong valuation profile (low P/E and ~5% yield). Recent fundamentals and guidance from the earnings call are supportive (NIM expected to improve, synergies progressing, ongoing buybacks), while technicals are only moderately positive and financial returns/cash-flow consistency remain the main constraints.
Positive Factors
Improving NIM
A rising net interest margin is a durable earnings driver for a regional bank. Management’s expectation to breach 4% and continue modest expansion implies sustained spread improvement on repricing of assets and disciplined funding, supporting recurring net interest income over coming quarters.
Negative Factors
Capital Pace Risk
Aggressive quarterly buybacks and dividend payouts are compressing regulatory capital buffers. Persistently lower capital ratios reduce flexibility for lending or absorbing losses and may force slower capital return or higher capital generation needs if earnings or credit trends deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving NIM
A rising net interest margin is a durable earnings driver for a regional bank. Management’s expectation to breach 4% and continue modest expansion implies sustained spread improvement on repricing of assets and disciplined funding, supporting recurring net interest income over coming quarters.
Read all positive factors
Columbia Banking System (COLB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.57B
Dividend Yield5.07%
Average Volume (3M)2.85M
Price to Earnings (P/E)10.4
Beta (1Y)1.06
Revenue Growth15.07%
EPS Growth5.80%
CountryUS
Employees4,721
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.72
Shares Outstanding289,993,870
10 Day Avg. Volume2,716,353
30 Day Avg. Volume2,849,063
Financial Highlights & Ratios
PEG Ratio-1.54
Price to Book (P/B)1.05
Price to Sales (P/S)2.57
P/FCF Ratio11.69
Enterprise Value/Market Cap1.21
Enterprise Value/Revenue3.22
Enterprise Value/Gross Profit4.76
Enterprise Value/Ebitda11.56
Forecast
1Y Price Target
$31.78Price Target Upside7.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)3.06
Revenue Forecast (FY)$2.78B
Columbia Banking System Business Overview & Revenue Model
Company Description
Columbia Banking System, Inc. operates as the bank holding company for Columbia State Bank that provides a range of banking services to small and medium-sized businesses, professionals, and individuals in the United States. It offers personal bank...
How the Company Makes Money
Columbia Banking System primarily makes money through traditional banking activities. Its largest earnings driver is typically net interest income: the company earns interest and fees on loans and other interest-earning assets (such as investment ...
Columbia Banking System Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operating picture: strong year-over-year operating income growth (PPNR +45%, operating net income +50%), robust loan origination (+38% YoY), significant noninterest income growth (+44% YoY), successful Pacific Premier integration and early realization of synergies (~80% achieved), and continued capital returns (Q1 buybacks of $200 million) while maintaining capital ratios above regulatory minima. Headwinds were largely seasonal or localized—Q1 NIM compression driven by seasonality (expected to reverse), a modest, isolated ag credit loss, slight capital ratio decline from aggressive buybacks, and transactional loan runoff that management expects to replace with higher-return relationship lending. Overall, highlights materially outweigh the contained lowlights.Positive Updates
Earnings and Operating Profitability
Reported GAAP EPS of $0.66 and operating EPS of $0.72. On an operating basis, pre-provision net revenue increased 45% and operating net income increased 50% year-over-year, reflecting acquisition impact plus disciplined expense management.
Negative Updates
Quarterly NIM Pressure and Seasonality
NIM declined from 4.06% in Q4 to 3.96% in Q1 (10 bps QoQ), driven by seasonal deposit outflows and higher average reliance on brokered and FHLB funding during the quarter (average reliance up ~7% vs Q4). Management notes Q1 is a seasonal low watermark for NIM.
Read all updates
Q1-2026 Updates
Positive
Negative
Earnings and Operating Profitability
Reported GAAP EPS of $0.66 and operating EPS of $0.72. On an operating basis, pre-provision net revenue increased 45% and operating net income increased 50% year-over-year, reflecting acquisition impact plus disciplined expense management.
Read all positive updates
Company Guidance
The company guided to continued balance-sheet optimization and capital return while providing specific near-term metrics: Q1 GAAP EPS was $0.66 (operating EPS $0.72), pre‑provision net revenue and operating net income were up 45% and 50% YoY, average earning assets were $60.8B, and NIM was 3.96% (management expects to cross >4% in Q2 and to modestly expand thereafter); over $6B of loans repricing in the next 12 months was noted. Q1 noninterest income was $83M GAAP ($81M operating) within the $80–$85M guide and expected in the low‑to‑mid‑$80M range in Q2; operating noninterest expense was $369M (run‑rate $328M ex‑$41M intangible amortization) with Q2 ex‑CDI guidance of $335–$345M and CDI amortization ~ $40M/quarter; $102M of $127M targeted synergies have been realized. Credit provision was $28M, ACL coverage was 1.00% of loans (1.28% including acquired loan credit discounts), and capital ratios were CET1 11.5% and total risk‑based 13.3% (down ~30 bps sequentially) with excess capital ~ $500M and $400M remaining repurchase authorization; the company repurchased 6.5M shares ($200M) in Q1 and expects buybacks of $150–$200M per quarter. Operational metrics highlighted: Q1 originations $1.2B (up 38% YoY), total loans $47.7B, total deposits $53.5B (customer balances +$110M quarter‑end, brokered deposits down $760M), ROAA ~1.3% and ROTCE >15%, and management expects ~$1.0–$1.25B of transactional loan runoff over the year (requiring ~4–5% core loan growth to keep balances flat).Columbia Banking System Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.21B | 2.97B | 2.74B | 1.35B | 1.32B |
| Gross Profit | 2.17B | 1.82B | 1.78B | 1.19B | 1.32B |
| EBITDA | 895.31M | 868.62M | 615.45M | 478.88M | 589.66M |
| Net Income | 550.03M | 533.67M | 348.71M | 336.75M | 420.30M |
Balance Sheet | |||||
| Total Assets | 67.22B | 51.58B | 52.17B | 31.85B | 30.64B |
| Cash, Cash Equivalents and Short-Term Investments | 511.00M | 2.08B | 10.99B | 4.49B | 6.63B |
| Total Debt | 4.01B | 3.90B | 4.76B | 1.72B | 975.13M |
| Total Liabilities | 59.38B | 46.46B | 47.18B | 29.37B | 27.89B |
| Stockholders Equity | 7.84B | 5.12B | 5.00B | 2.48B | 2.75B |
Cash Flow | |||||
| Free Cash Flow | 706.00M | 623.20M | 669.84M | 1.04B | 647.25M |
| Operating Cash Flow | 746.00M | 658.87M | 669.84M | 1.07B | 662.72M |
| Investing Cash Flow | 2.17B | 114.57M | 501.74M | -3.53B | -1.53B |
| Financing Cash Flow | -2.42B | -1.06B | -303.69M | 1.00B | 1.06B |
Columbia Banking System Technical Analysis
Positive
29.63
Price Trends
28.66
Positive
28.52
Positive
26.70
Positive
Market Momentum
0.40
Negative
62.69
Neutral
75.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COLB, the sentiment is Positive. The current price of 29.63 is above the 20-day moving average (MA) of 28.05, above the 50-day MA of 28.66, and above the 200-day MA of 26.70, indicating a bullish trend. The MACD of 0.40 indicates Negative momentum. The RSI at 62.69 is Neutral, neither overbought nor oversold. The STOCH value of 75.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for COLB.
Columbia Banking System Risk Analysis
Columbia Banking System disclosed 32 risk factors in its most recent earnings report. Columbia Banking System reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Columbia Banking System Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $5.51B | 7.77 | 11.63% | 3.68% | 0.67% | 0.49% | |
74 Outperform | $8.57B | 10.39 | 9.16% | 5.07% | 15.07% | 5.80% | |
74 Outperform | $6.28B | 11.00 | 8.77% | 2.73% | 4.16% | 27.83% | |
74 Outperform | $6.39B | 17.68 | 6.83% | 2.89% | 18.22% | 14.79% | |
73 Outperform | $7.49B | 10.41 | 8.49% | 3.69% | -0.22% | 62.53% | |
69 Neutral | $5.40B | 11.22 | 11.29% | 2.85% | 0.57% | 15.88% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
COLB
Columbia Banking System
29.56
7.16
31.97%
OZK
Bank OZK
48.57
6.12
14.42%
FNB
F.N.B.
17.66
4.42
33.35%
GBCI
Glacier Bancorp
49.08
8.58
21.18%
HOMB
Home Bancshares
26.74
-0.83
-2.99%
VLY
Valley National Bancorp
13.51
4.97
58.20%
Columbia Banking System Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Columbia Banking System Reports Solid First-Quarter 2026 Results
Positive
Apr 23, 2026
On April 23, 2026, Columbia Banking System, Inc. reported first-quarter 2026 results showing net income of $192 million and operating net income of $209 million, with diluted EPS of $0.66 and operating diluted EPS of $0.72. Management highlighted ...
Business Operations and StrategyFinancial Disclosures
Columbia Banking System Schedules First-Quarter 2026 Earnings Release
Neutral
Mar 31, 2026
On March 31, 2026, Columbia Banking System, Inc. announced it will release its first quarter 2026 financial results on Thursday, April 23, 2026, after the market close. The bank holding company will host a conference call for investors and analyst...
Business Operations and StrategyDividends
Columbia Banking System Declares Quarterly Cash Dividend
Positive
Feb 13, 2026
On February 13, 2026, Columbia Banking System, Inc., parent company of Columbia Bank, announced that its board of directors approved a quarterly cash dividend of $0.37 per common share. The dividend will be paid on March 16, 2026, to shareholders ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.