Columbia Financial (NASDAQ:CLBK) Shares Down 0.6% – Here’s Why
by Kim Johansen · The Markets DailyColumbia Financial (NASDAQ:CLBK – Get Free Report) traded down 0.6% during mid-day trading on Wednesday . The stock traded as low as $17.65 and last traded at $17.67. 357,892 shares were traded during mid-day trading, an increase of 38% from the average session volume of 258,651 shares. The stock had previously closed at $17.78.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Weiss Ratings upgraded Columbia Financial from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 24th. Piper Sandler raised their price target on Columbia Financial from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, November 24th. Finally, Brean Capital began coverage on shares of Columbia Financial in a research report on Thursday. They set a “neutral” rating and a $19.00 target price on the stock. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.00.
View Our Latest Analysis on Columbia Financial
Columbia Financial Trading Up 0.3%
The stock has a 50-day moving average of $17.18 and a 200 day moving average of $16.05. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 1.02. The stock has a market cap of $1.82 billion, a PE ratio of 34.18 and a beta of 0.21.
Columbia Financial (NASDAQ:CLBK – Get Free Report) last announced its quarterly earnings data on Monday, February 2nd. The company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $68.78 million during the quarter, compared to analysts’ expectations of $59.20 million. Columbia Financial had a net margin of 10.19% and a return on equity of 4.69%. As a group, sell-side analysts anticipate that Columbia Financial will post 0.43 earnings per share for the current year.
Institutional Trading of Columbia Financial
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP boosted its position in Columbia Financial by 297.5% in the 2nd quarter. Marshall Wace LLP now owns 146,678 shares of the company’s stock worth $2,128,000 after purchasing an additional 109,780 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Columbia Financial by 76.1% in the 2nd quarter. First Trust Advisors LP now owns 177,198 shares of the company’s stock valued at $2,571,000 after purchasing an additional 76,560 shares during the period. Creative Planning boosted its holdings in Columbia Financial by 132.0% during the second quarter. Creative Planning now owns 121,572 shares of the company’s stock worth $1,764,000 after buying an additional 69,171 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Columbia Financial by 61.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 179,083 shares of the company’s stock valued at $2,783,000 after buying an additional 68,162 shares during the period. Finally, Two Sigma Investments LP increased its holdings in Columbia Financial by 109.7% in the third quarter. Two Sigma Investments LP now owns 126,592 shares of the company’s stock valued at $1,900,000 after buying an additional 66,238 shares in the last quarter. 12.72% of the stock is owned by institutional investors and hedge funds.
Columbia Financial Company Profile
Columbia Financial, Inc is the bank holding company for Columbia Bank, a commercial bank headquartered in Fair Lawn, New Jersey. Through its principal subsidiary, Columbia Bank, the company offers a comprehensive suite of retail and commercial banking products and services. These offerings include deposit accounts, consumer and mortgage lending, commercial real estate financing, and business banking solutions tailored to small- and medium-sized enterprises.
On the consumer side, Columbia Bank provides checking and savings accounts, certificates of deposit, home equity lines of credit, and residential mortgage loans.