Raymond James reiterates Strong Buy on Columbia Banking stock

Raymond James has reiterated its "Strong Buy" rating and $34.00 price target for Columbia Banking System (NASDAQ:COLB) after the bank's presentation at the BancAnalysts Association of Boston Conference. The firm's constructive outlook is reinforced by strong fundamental performance, an attractive capital return strategy including a 7.5% buyback and nearly 5% dividend yield, and a favorable risk-reward profile based on durable earnings growth and valuation. Additionally, Columbia Banking System recently reported strong Q3 2026 results, surpassing analyst expectations for earnings and revenue.