Columbia Financial (NASDAQ:CLBK) Upgraded at Brean Capital

Brean Capital upgraded shares of Columbia Financial (NASDAQ:CLBK) from a neutral rating to a buy rating in a research report report published on Monday morning, Marketbeat.com reports.

Several other research analysts also recently commented on the company. Wall Street Zen raised Columbia Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings upgraded shares of Columbia Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods initiated coverage on shares of Columbia Financial in a report on Monday. They set an “outperform” rating and a $14.50 price target on the stock. Finally, Piper Sandler upgraded shares of Columbia Financial from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $19.00 to $14.00 in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.10.

Columbia Financial Trading Down 1.1%

Shares of CLBK opened at $11.69 on Monday. Columbia Financial has a 52-week low of $6.21 and a 52-week high of $12.00. The business’s fifty day moving average is $16.68 and its 200-day moving average is $17.90. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 34.85 and a beta of 0.23.

Columbia Financial (NASDAQ:CLBK) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.14 earnings per share for the quarter. Columbia Financial had a return on equity of 5.29% and a net margin of 11.19%.The business had revenue of $73.75 million during the quarter. Equities analysts anticipate that Columbia Financial will post 0.59 EPS for the current fiscal year.

Columbia Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 12th. Columbia Financial’s dividend payout ratio is presently 58.82%.

Institutional Trading of Columbia Financial

A number of hedge funds have recently made changes to their positions in CLBK. Russell Investments Group Ltd. grew its holdings in shares of Columbia Financial by 2,322.2% during the third quarter. Russell Investments Group Ltd. now owns 2,616 shares of the company’s stock worth $39,000 after purchasing an additional 2,508 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Columbia Financial in the first quarter valued at approximately $44,000. Virtus Advisers LLC bought a new position in Columbia Financial in the 3rd quarter valued at approximately $120,000. Campbell & CO Investment Adviser LLC bought a new position in Columbia Financial in the 4th quarter valued at approximately $168,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Columbia Financial by 73.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,122 shares of the company’s stock valued at $188,000 after buying an additional 5,119 shares during 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.