I brought some COLB at $21.99 today. Here is what I like.
1) COLB pays a nice healthy dividend yield of 6.55% where I brought so you get paid while you wait.
2) The COLB Acquisition should be accretive to earnings in the future. I wouldn’t be surprised if earnings are around $3.25 in FY 26. A 12x Multiple could gets us to the upper 30’s hence I feel it is very undervalued here.
3) COLB Asset quality is solid and healthy. Which is a significant plus.
Conclusion: I Like COLB a lot here, as I think the risk/reward is very attractive, and I will buy more on weakness. All is just my opinion, and I could always be wrong though.