Wells Fargo analyst Timur Braziler upgrades $Columbia Banking System (COLB.US)$ to a buy rating, and adjusts the target price from $33 to $35.
According to TipRanks data, the analyst has a success rate of 53.1% and a total average return of 5.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Columbia Banking System (COLB.US)$'s main analysts recently are as follows:
As we approach the Q4 earnings season for regional banks, fundamental trends are anticipated to include minimal changes in loans and deposits, slightly declining net interest margins, and stable overall credit trends. Going beyond immediate results, the emphasis among banking sector earnings will likely shift towards projections for 2025, with expectations reflecting the current predictions of prolonged higher interest rates. The perspective on regional bank stocks in 2025 remains positive, albeit cautious due to expectations of a less aggressive interest rate reduction strategy by the Federal Reserve.
The firm is more constructive due to its anticipation of a net interest income rise post Q1 2025, influenced by a steeper curve, improved early deposit betas, and regulatory relief. Additionally, the value of the 'underappreciated' deposit franchise, currently at a historical discount, along with $8B of high-cost funding repricing through Q1 2025, has been highlighted.
Note:
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