Wunderlich Securities Reiterates Columbia Banking System Buy, $25 PT (COLB)

Wunderlich Securities reiterated its Columbia Banking System

Buy and $25 price target in a research report published today. In the report, Wunderlich Securities states, "COLB reported 4Q10 EPS of $0.32, beating the entire range of analysts' estimates by $0.15, including the consensus estimate of $0.13 and our estimate of $0.12. The company's outperformance was the result of much stronger revenue growth than we projected as well as relatively stable asset quality. We believe that current levels understate the inherent value of the company's abundant capital, strong core earnings power, and veteran management team." Shares of Columbia Banking System were at $19.91 in after hours trading at the time of posting, reflecting no change from Friday's market close.