Columbia Banking System (COLB) completed its merger with Pacific Premier Bancorp. First quarter earnings beat expectations.
The merger generated synergies faster than anticipated. Expenses were lower than forecast. Analysts expect EPS to rise from $3.08 to $3.50.
The company is optimizing its balance sheet. This limits near-term asset growth but could improve long-term profitability.
A new CFO was appointed. The leadership change adds risk, but a large share buyback program signals confidence.
COLB stock trades at a P/E ratio of 11.68. Dividend yield is 4.99%. Industry conditions remain favorable.
