Columbia Banking resumed with a Neutral at JPMorgan

JPMorgan resumed coverage of Columbia Banking with a Neutral rating and rice target of $24.50, up from $22.50, following a period of restriction. While Columbia is an “attractive West Coast regional bank in the making,” expected total return expectations are in line with peers in the near term, the analyst tells investors in a research note. The firm is waiting for signs of its vision coming to fruition and improving the prospects to drive key growth metrics.