Columbia Financial (NASDAQ:CLBK) Reaches New 12-Month High – Should You Buy?

by · The Markets Daily

Shares of Columbia Financial (NASDAQ:CLBK – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $21.27 and last traded at $21.2780, with a volume of 189245 shares trading hands. The stock had previously closed at $21.03.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler assumed coverage on Columbia Financial in a report on Monday, March 16th. They set a “neutral” rating and a $18.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Columbia Financial in a research report on Friday, June 5th. Brean Capital cut Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, March 12th. Finally, Wall Street Zen lowered Columbia Financial from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Columbia Financial currently has an average rating of “Hold” and an average target price of $18.50.

Check Out Our Latest Analysis on CLBK

Columbia Financial Stock Performance

The business has a 50-day moving average price of $19.74 and a 200-day moving average price of $18.06. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 38.61 and a beta of 0.25. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.06.

Columbia Financial (NASDAQ:CLBK – Get Free Report) last announced its earnings results on Monday, April 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Columbia Financial had a net margin of 10.91% and a return on equity of 5.12%. The business had revenue of $67.14 million for the quarter, compared to analyst estimates of $70.10 million. As a group, sell-side analysts forecast that Columbia Financial will post 0.74 earnings per share for the current year.

Hedge Funds Weigh In On Columbia Financial

Several hedge funds and other institutional investors have recently modified their holdings of CLBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Columbia Financial by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,384 shares of the company’s stock worth $246,000 after purchasing an additional 702 shares during the last quarter. Intech Investment Management LLC boosted its position in Columbia Financial by 7.9% in the third quarter. Intech Investment Management LLC now owns 12,806 shares of the company’s stock valued at $192,000 after buying an additional 939 shares during the last quarter. Invesco Ltd. increased its holdings in Columbia Financial by 2.7% in the 2nd quarter. Invesco Ltd. now owns 40,957 shares of the company’s stock worth $594,000 after buying an additional 1,086 shares during the period. The Manufacturers Life Insurance Company raised its position in Columbia Financial by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,949 shares of the company’s stock worth $260,000 after buying an additional 1,342 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Columbia Financial by 59.8% during the 4th quarter. Russell Investments Group Ltd. now owns 4,180 shares of the company’s stock worth $65,000 after buying an additional 1,564 shares during the last quarter. 12.72% of the stock is owned by hedge funds and other institutional investors.

About Columbia Financial

(Get Free Report)

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.

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