Columbia Banking System (COLB) AI Stock Analysis

• Market Cap: $9.34B
• Dividend Yield: 5.07%
• Average Volume (3M): 2.79M
• Price to Earnings (P/E): 13.6
• Beta (1Y): 1.02
• Revenue Growth: -0.30%
• EPS Growth: -3.80%
• Country: US
• Employees: 4,721
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.82
• Shares Outstanding: 299,120,970
• 10 Day Avg. Volume: 2,608,030
• 30 Day Avg. Volume: 2,786,568
• PEG Ratio: -1.54
• Price to Book (P/B): 1.05
• Price to Sales (P/S): 2.57
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.12
• Enterprise Value/Revenue: 3.25
• Enterprise Value/Gross Profit: 4.80
• Enterprise Value/Ebitda: 11.66
• 1Y Price Target: $32.86
• Price Target Upside: 9.29% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): 3.04
• Revenue Forecast (FY): $2.78B

• Rating: 75 Outperform
• Price Target: $33.00 ▲(9.74% Upside)
• Action: Reiterated Date: 01/23/26
• Date: Action: Reiterated 01/23/26

The score is driven primarily by solid financial performance (revenue and free cash flow strength) and a supportive valuation (moderate P/E with a high dividend yield). Technicals add a positive trend backdrop, while the earnings call reinforces confidence via acquisition integration progress and shareholder returns; risks center on profitability pressure, higher debt over time, and deposit/loan-optimization execution.

Positive Factors

Strategic Acquisition

The acquisition of Pacific Premier enhances Columbia's market presence and asset base, strengthening its competitive position in the regional banking sector.

Share Repurchase Program

The significant share repurchase program reflects confidence in financial strength and supports shareholder value, indicating robust capital generation.

Improved Capital Ratios

Strong capital ratios provide a buffer against economic uncertainties and support future growth initiatives, enhancing financial stability.

Negative Factors

Profitability Margins

Decreasing margins and rising debt may pressure long-term profitability, affecting the bank's ability to invest in growth and innovation.

Loan Portfolio Optimization

Efforts to optimize the loan portfolio could limit short-term loan growth, impacting revenue from interest income despite long-term strategic benefits.

Seasonal Deposit Outflows

Seasonal deposit outflows may necessitate costly wholesale funding, affecting liquidity and potentially increasing funding costs.

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 banking products and services, including noninterest and interest-bearing checking, savings, money market, and certificate of deposit accounts; home mortgages for purchases and refinances, home equity loans and lines of credit, and other personal loans; debit and credit cards; and digital banking services. The company also provides business banking products and services, such as checking, savings, interest-bearing money market, and certificate of deposit accounts; agricultural, asset-based, builder, and other commercial real estate loans, as well as loans guaranteed by the small business administration; and professional banking, treasury management, merchant card, and international banking services. In addition, it offers wealth management solutions that include financial planning services, such as asset allocation, net worth analysis, estate planning and preservation, education funding, and wealth transfer; long-term care, and life and disability insurance solutions; individual retirement solutions comprising retirement planning, retirement income strategies, and traditional and Roth individual retirement accounts; and business solutions, which comprise business retirement plans, key person insurance, business succession planning, and deferred compensation plans to individuals, families, and professional businesses. Further, the company provides fiduciary, investment, and administrative trust services, such as personal and special needs trusts, estate settlement, and investment agency and charitable management. It operates a network of 153 branch locations, including 68 in the state of Washington, 59 in Oregon, 15 in Idaho, and 11 in California. The company was founded in 1993 and is headquartered in Tacoma, Washington.

How the Company Makes Money

Columbia Banking System generates revenue primarily through interest income from loans and investments, as well as non-interest income from service fees and other banking services. The bank earns interest by lending money to consumers and businesses, with interest rates typically higher than the rates paid on deposits. Key revenue streams include commercial and residential loans, consumer loans, and mortgage originations. Additionally, the bank collects fees for services such as account maintenance, ATM transactions, and wealth management, contributing to its non-interest income. Strategic partnerships with local businesses and community organizations also help drive customer growth and enhance service offerings, further supporting the bank's overall earnings.

Columbia Banking System Financial Statement Overview

Summary

Overall fundamentals are solid, supported by consistent revenue growth and strong free cash flow growth. Offsetting factors include slight pressure on profit margins, a lower return on equity versus prior periods, and rising total debt (despite an improving debt-to-equity profile).

Income Statement

Columbia Banking System shows a solid performance in its income statement with a consistent revenue growth trend, particularly evident in the TTM period. The gross profit margin and net profit margin have shown stability, although they have decreased slightly from previous years. The EBIT and EBITDA margins are healthy, indicating efficient operational management. However, the decline in net profit margin from the previous year suggests some pressure on profitability.

Balance Sheet

The balance sheet reflects a stable financial position with a moderate debt-to-equity ratio, which has improved in the TTM period. The return on equity has decreased compared to previous years, indicating a slight decline in profitability relative to shareholder equity. The equity ratio remains strong, suggesting a solid capital structure. However, the increase in total debt over the years could pose a risk if not managed carefully.

Cash Flow

The cash flow statement highlights a strong free cash flow growth in the TTM period, indicating improved cash generation capabilities. The operating cash flow to net income ratio is low, suggesting that cash generation from operations is not fully aligned with reported net income. However, the free cash flow to net income ratio is robust, reflecting efficient cash management. The positive trend in free cash flow growth is a significant strength.

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	66.83B	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	3.84B	3.90B	4.76B	1.72B	975.13M
Total Liabilities	58.99B	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	0.00	623.20M	669.84M	1.04B	647.25M
Operating Cash Flow	0.00	658.87M	669.84M	1.07B	662.72M
Investing Cash Flow	0.00	114.57M	501.74M	-3.53B	-1.53B
Financing Cash Flow	0.00	-1.06B	-303.69M	1.00B	1.06B

Columbia Banking System Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 30.07
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COLB, the sentiment is Neutral. The current price of 30.07 is below the 20-day moving average (MA) of 30.71, above the 50-day MA of 29.59, and above the 200-day MA of 26.02, indicating a neutral trend. The MACD of 0.54 indicates Positive momentum. The RSI at 46.55 is Neutral, neither overbought nor oversold. The STOCH value of 27.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for COLB.

Columbia Banking System Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COLB	75 Outperform	$9.34B	13.58	8.49%	5.07%	-0.30%	-3.80%
GBCI	74 Outperform	$6.53B	25.27	6.43%	2.89%	8.73%	26.19%
FNB	72 Outperform	$6.50B	11.63	8.66%	2.73%	4.54%	27.56%
HOMB	71 Outperform	$5.74B	12.12	11.51%	2.85%	1.43%	19.58%
OZK	70 Outperform	$5.61B	8.01	12.09%	3.68%	2.79%	2.11%
VLY	69 Neutral	$7.40B	13.14	7.85%	3.69%	-1.94%	41.35%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Columbia Banking System Corporate Events

Columbia Banking System Reports Strong Q4 Earnings Post-Acquisition

On January 22, 2026, Columbia Banking System reported fourth-quarter 2025 results showing net income of $215 million and operating net income of $243 million, equal to diluted earnings per share of $0.72 and operating diluted EPS of $0.82, respectively. The quarter reflected the first full three-month contribution from the Pacific Premier acquisition, driving a $122 million sequential increase in net interest income to $627 million, a 22-basis-point rise in net interest margin to 4.06%, and a $16 million rise in adjusted non-interest income, while non-interest expense rose by $19 million as the company continued to operate as a combined entity. Credit quality remained stable with net charge-offs at 0.25% of average loans and leases and non-performing assets at 0.30% of total assets, while provision expense fell sharply to $23 million from $70 million in the prior quarter, normalizing after acquisition-related impacts. Capital levels stayed strong, with an estimated total risk-based capital ratio of 13.6% and CET1 of 11.8%; Columbia paid a $0.37 per-share quarterly dividend in December 2025 and repurchased $100 million of common stock, underscoring ongoing capital returns to shareholders. Management highlighted disciplined balance sheet management, successful deposit-gathering campaigns that added $1.3 billion in new deposits in 2025, and progress toward a systems conversion expected later in the quarter, positioning the bank to capture merger-related cost savings, improve efficiency, and enhance long-term earnings power and competitiveness in its western U.S. markets.

The most recent analyst rating on (COLB) stock is a Hold with a $30.00 price target. To see the full list of analyst forecasts on Columbia Banking System stock, see the COLB Stock Forecast page.

Columbia Banking System Schedules Q4 2025 Earnings Release

On December 31, 2025, Columbia Banking System, Inc. announced it would release its fourth-quarter 2025 financial results after the market close on Thursday, January 22, 2026, followed by a conference call and live Q&A for investors and analysts at 2:00 p.m. Pacific Time that same day. The scheduled disclosure and investor call underscore the company’s efforts to maintain transparency with stakeholders and provide an update on its latest financial performance and recent activities amid its continued role as a leading regional banking provider in the western United States.

The most recent analyst rating on (COLB) stock is a Hold with a $30.00 price target. To see the full list of analyst forecasts on Columbia Banking System stock, see the COLB Stock Forecast page.

Columbia Banking System Appoints New Chief Accounting Officer

Columbia Banking System announced a leadership change effective November 20, 2025, with Brock Lakely appointed as Executive Vice President, Chief Accounting Officer, and Corporate Controller, succeeding Lisa M. White. Mr. Lakely, who previously served as the company’s Chief Audit Executive and Chief Accounting Officer, brings extensive experience in the financial services industry, which is expected to support Columbia Banking System’s operational stability and strategic objectives.

The most recent analyst rating on (COLB) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Columbia Banking System stock, see the COLB Stock Forecast page.

Columbia Banking System Increases Quarterly Dividend by 3%

On November 14, 2025, Columbia Banking System, Inc. announced a 3% increase in its quarterly cash dividend to $0.37 per common share, payable on December 15, 2025. This move aligns with the company’s strategic focus on enhancing shareholder value, supported by a $700 million share repurchase program and expectations of strong profitability and capital generation in the coming quarters.

The most recent analyst rating on (COLB) stock is a Hold with a $28.00 price target. To see the full list of analyst forecasts on Columbia Banking System stock, see the COLB Stock Forecast page.

Columbia Banking System Appoints New CFO Ivan Seda

On October 29, 2025, Columbia Banking System announced the appointment of Ivan Seda as Chief Financial Officer, effective December 31, 2025, succeeding Ronald L. Farnsworth, who will transition to a senior advisor role until June 1, 2026. Seda, who joined Columbia in August 2025 and has extensive financial experience, is expected to continue driving the company’s growth and shareholder value. Farnsworth has been instrumental in Columbia’s recent strategic developments, and his transition is aimed at ensuring a seamless leadership change.

The most recent analyst rating on (COLB) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Columbia Banking System stock, see the COLB Stock Forecast page.

Columbia Banking System Reports Strong Q3 2025 Results

On October 30, 2025, Columbia Banking System reported its third-quarter 2025 financial results, highlighting a net income of $96 million and operating net income of $204 million. The company completed its acquisition of Pacific Premier, which contributed to a $59 million increase in net interest income and a 9 basis point rise in net interest margin. Despite acquisition-related expenses impacting reported results, core profitability remained strong, supported by customer deposit growth and balance sheet optimization. The board authorized a $700 million share repurchase program, reflecting confidence in the company’s strategy and capital generation outlook.

The most recent analyst rating on (COLB) stock is a Hold with a $28.00 price target. To see the full list of analyst forecasts on Columbia Banking System stock, see the COLB Stock Forecast page.