Columbia Banking price target lowered to $31 from $33 at Stephens

Stephens lowered the firm’s price target on Columbia Banking (COLB) to $31 from $33 and keeps an Equal Weight rating on the shares. The firm thinks “there was some conservatism” in Q1 guidance as it forecasts modest net interest margin expansion of 1 basis point in the quarter, notes the analyst. In addition, while it doesn’t get the sense buybacks are imminent, Stephens “wouldn’t be surprised to see increased appetite later this year,” the analyst tells investors.