Columbia Banking System (COLB)
NASDAQ:COLB
Top Page
Columbia Banking System
(NASDAQ:COLB)
Select Model
Select Model
Rating:71Outperform
Price Target:
$34.00
â–²(14.98% Upside)
Action:ReiteratedDate:02/27/26
The score is driven primarily by solid financial performance with improving leverage but only moderate returns and uneven cash-flow quality, supported by attractive valuation and dividend yield. Technicals are moderately positive but not strongly bullish, while the earnings call adds a modest boost on improving margin/synergies and capital return plans offset by near-term NIM/NII pressure and limited loan growth.
Positive Factors
Strategic Acquisition & Market Expansion
The Pacific Premier acquisition materially increases scale and geographic diversification across the western U.S., adds trust/fee capabilities and an API marketplace, and creates cross-sell opportunities. These structural gains broaden the deposit base and fee revenue runway, supporting durable earnings.
Negative Factors
Near-Term Loan Contraction & Runoff
Persistent transactional and CRE paydowns, plus ~$4B of transactional loans repricing/maturing over 24 months, constrain organic loan growth and earning-asset expansion. Limited loan growth pressures long-term interest income generation and caps credit-driven revenue expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic Acquisition & Market Expansion
The Pacific Premier acquisition materially increases scale and geographic diversification across the western U.S., adds trust/fee capabilities and an API marketplace, and creates cross-sell opportunities. These structural gains broaden the deposit base and fee revenue runway, supporting durable earnings.
Read all positive factors
Columbia Banking System (COLB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.74B
Dividend Yield5.07%
Average Volume (3M)3.05M
Price to Earnings (P/E)9.6
Beta (1Y)1.05
Revenue Growth-0.30%
EPS Growth-3.80%
CountryUS
Employees4,721
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.82
Shares Outstanding295,550,700
10 Day Avg. Volume2,698,464
30 Day Avg. Volume3,049,962
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 Cap1.19
Enterprise Value/Revenue3.23
Enterprise Value/Gross Profit4.78
Enterprise Value/Ebitda11.61
Forecast
1Y Price Target
$32.05Price Target Upside8.39% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
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 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 business...
Columbia Banking System Earnings Call Summary
Earnings Call Date:Jan 22, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
Overall the call emphasized successful strategic integration of Pacific Premier, strong sequential and annual operating performance (notably PPNR up 27% QoQ, NIM expansion to 4.06%, and double-digit fee and origination growth), solid capital returns and an active buyback plan, with manageable near-term balance sheet headwinds (transactional loan runoff, seasonal deposit outflows, and non-recurring Q4 margin items). Management provided clear guidance that some Q4 benefits will not repeat in Q1 but expects margins and profitability to trend higher through 2026 as cost synergies are realized and balance sheet optimization continues.Positive Updates
Strategic Acquisition of Pacific Premier Completed
Closed the Pacific Premier acquisition in 2025, expanding Columbia's Western footprint, achieving a top-10 deposit market share in Southern California, and adding complementary fee and trust capabilities (e.g., custodial trust, API marketplace).
Negative Updates
Quarterly Balance Sheet Contraction
Gross loans declined to $47.8B from $48.5B (QoQ down ≈1.4%) and total deposits declined to $54.2B from $55.8B (QoQ down ≈2.9%), driven by transactional loan runoff, CRE construction paydowns, seasonal customer outflows, and intentional reduction of brokered/public deposits (> $650M).
Read all updates
Q4-2025 Updates
Positive
Negative
Strategic Acquisition of Pacific Premier Completed
Closed the Pacific Premier acquisition in 2025, expanding Columbia's Western footprint, achieving a top-10 deposit market share in Southern California, and adding complementary fee and trust capabilities (e.g., custodial trust, API marketplace).
Read all positive updates
Company Guidance
The company guided to first-quarter net interest margin of 3.90%–3.95% (reflecting the loss of ~11 bps of fourth-quarter CD premium benefit) with earning assets roughly $60.5–$61.0 billion (down from $61.3B at year‑end) and net interest income expected to dip just below $600 million in Q1 before rising in Q2; management expects NIM to trend higher each quarter and to surpass 4% in Q2 or Q3. They see total loans roughly flat for the year (with transactional balances amortizing and core commercial growth offsetting runoff), modest seasonal deposit contraction into April before spring rebound, and a loan‑to‑deposit ratio comfortable in the low‑90s (finished Q4 at ~88%). Expense guidance is operating noninterest expense (excluding CDI amortization) of about $335–$345 million in Q1 and Q2, CDI amortization averaging ~ $40 million per quarter, a full‑year operating expense run‑rate near $1.5 billion (exit sub‑$370M all‑in; ~ $330M excluding CDI), and realization of $63 million of annualized deal‑related cost savings to date (≈50% of a $127M target) with full PAC Premier cost saves expected by end of Q2. Capital deployment priorities include raising buybacks to $150–$200 million per quarter in 2026 (≈$600 million remaining authorization), maintaining the $0.37 quarterly dividend, and operating with >$600 million of excess capital on the most constrained measure; key year‑end metrics included CET1 11.8%, total risk‑based capital 13.6%, tangible book $19.11, ROAA >1.4% and ROTCE >17%.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
29.57
Price Trends
28.69
Positive
28.31
Positive
26.50
Positive
Market Momentum
0.10
Negative
64.61
Neutral
83.45
Negative
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 29.57 is above the 20-day moving average (MA) of 27.21, above the 50-day MA of 28.69, and above the 200-day MA of 26.50, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 64.61 is Neutral, neither overbought nor oversold. The STOCH value of 83.45 is Negative, 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | $5.45B | 7.10 | 11.93% | 3.68% | 2.79% | 2.11% | |
74 Outperform | $5.77B | 11.51 | 11.43% | 2.85% | 1.43% | 19.58% | |
71 Outperform | $8.74B | 9.60 | 8.39% | 5.07% | -0.30% | -3.80% | |
71 Outperform | $6.38B | 10.86 | 8.58% | 2.73% | 4.54% | 27.56% | |
69 Neutral | $7.36B | 8.34 | 7.82% | 3.69% | -1.94% | 41.35% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $6.27B | 22.44 | 6.53% | 2.89% | 8.73% | 26.19% |
* Financial Sector Average
COLB
Columbia Banking System
29.57
9.82
49.75%
OZK
Bank OZK
48.08
11.55
31.61%
FNB
F.N.B.
17.94
6.50
56.85%
GBCI
Glacier Bancorp
48.21
11.13
30.01%
HOMB
Home Bancshares
28.57
4.05
16.51%
VLY
Valley National Bancorp
13.25
5.70
75.45%
Columbia Banking System Corporate Events
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 ...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresM&A Transactions
Columbia Banking System Reports Strong Q4 Earnings Post-Acquisition
Positive
Jan 22, 2026
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, respect...
Financial Disclosures
Columbia Banking System Schedules Q4 2025 Earnings Release
Neutral
Dec 31, 2025
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 QA for investors and analysts at ...
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.