Columbia Banking price target raised to $32 from $30 at RBC Capital

Group 1 - RBC Capital raised the price target on Columbia Banking (COLB) to $32 from $30 while maintaining a Sector Perform rating after the company's Q4 earnings exceeded expectations [1] - The comparisons in earnings were influenced by the acquisition of Pacific Premier, which closed on August 31st, but core trends showed solid performance with a favorable mix shift in assets, margin strength, and tight expense control [1] - Management indicated a slightly smaller balance sheet to start the year and a lower margin, but anticipates growth in both metrics after Q1 [1]