Deutsche Bank initiates Columbia Banking System stock coverage with hold rating

TD Cowen raised its price target for Columbia Banking System (COLB) to $33.00 from $32.00, citing improved profitability. The bank's net interest margin exceeded 4% in Q3 2026, driven by strong customer deposits. COLB's new $1.2 billion buyback program is expected to support earnings per share. The stock trades at a P/E ratio of 10.77 and a PEG ratio of 0.33, though it is considered slightly overvalued.

Columbia Banking System (COLB) shares rose 3.7% after reporting Q3 2026 revenue of $695M (up 20% YoY, above estimates) and adjusted EPS of $0.82 (above consensus). Net interest income increased 21.8% to $615M, and net interest margin expanded to 4.11%. Management guided Q4 net interest margin to ~4.05% and announced a $1.2B buyback program. Shares trade near 52-week highs at $31.00.

Columbia Banking System (COLB) reported Q3 2026 earnings with a net interest margin of 4.11%, up from prior quarters. The company saw strong deposit growth, a new $1.2B share repurchase program, and a shift toward commercial loans. However, total loans declined, and the net interest margin is expected to decrease to 4.05% in Q4. The CET1 ratio slightly declined to 11.5%. Management discussed margin trends, buyback plans, and capital targets during the earnings call.

Columbia Banking System (COLB) reported Q3 2026 earnings with EPS of $0.78 GAAP and $0.82 operating. Pre-provision net revenue rose 7% sequentially and 25% year-over-year. Net interest margin was 4.11%, with Q4 guidance at ~4.05%. Non-interest income reached $87 million, and non-interest expense was flat at $365 million. The company repurchased 6.5 million shares for ~$200 million and authorized a new $1.2 billion buyback program.

Columbia Banking System reported Q3 average earning assets of $59.8B, down due to balance sheet optimization. It forecasted Q4 net interest margin of 4.05% and expects margins to stay above 4% excluding unusual items. The company issued $250M in subordinated notes for debt redemptions, which may reduce its risk-based capital ratio. Commercial loans made up 43% of the portfolio, and total deposits rose to $52.7B. Fee income grew in treasury management, international banking, and card services.

Columbia Banking (COLB) reported Q3 2026 EPS of $0.78, with operating EPS at $0.82. Net interest margin expanded to 4.11%, and noninterest income was $87M. The company reduced wholesale funding by $1.5B, improving funding mix. They repurchased $200M in shares and expect Q4 NIM around 4.05%.