Columbia Banking price target raised to $31 from $29 at RBC Capital

RBC Capital analyst Jon Arfstrom raised the firm’s price target on Columbia Banking (COLB) to $31 from $29 and keeps a Sector Perform rating on the shares. The company’s Q3 was a good quarter with good execution driving improved core performance, and the firm is encouraged that recent deposit campaigns, an expense initiative, and solid operational trends are driving stability and a solid outlook, the analyst tells investors in a research note.