COLB
Brought back COLB At $22.84 today. here is what I like.
1) COLB pays a nice dividend of 6.30% where I purchased it.
2) COLB Reported .76 this past quarter, beating analyst estimates by about a dime. Given the presentation of the upcoming acquisition eps Could be about $3.25 Next year and Approaching $3.50 the following with the synergies. I like this acquisition for this bank from a gaining market share approach to give scale in certain geographic areas they didn't have at this time but were trying to build scale in, hence it gets them there much quicker.
3) And of course Asset quality is rock solid here as well, which is yet another plus.
4) Regional banks like this can generally get say a 12x-15x multiple. even at a 12x multiple time $3.25 next year, puts FV in the high 30's over the next year. Hence I see significant upside while have an impressive but easily payable dividend yield.
Conclusion: I like COLB here as I think COLB is very attractive at current levels and offers a good stock dividend, I like the upcoming acquisition and believe not only this will be highly accretive to the bank, but it will help them gain market share in key geographic areas they were going after faster. Time will tell. All is just my opinion, and I could always be wrong though.
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