Columbia Banking price target raised to $30 from $28 at Wells Fargo

Wells Fargo analyst Timur Braziler raised the firm’s price target on Columbia Banking (COLB) to $30 from $28 and keeps an Equal Weight rating on the shares following the quarterly results. Deposit repricing is driving net interest income upside, though trends become a bit more challenging once the funding beta peaks, as accretion income declines and balance sheet growth is muted, the analyst tells investors in a research note.