Columbia Financial (NASDAQ:CLBK) Reaches New 1-Year High – Here’s What Happened

Shares of Columbia Financial (NASDAQ:CLBK) reached a new 52-week high on Monday . The company traded as high as $18.29 and last traded at $18.5830, with a volume of 20439 shares. The stock had previously closed at $16.27.

Analyst Ratings Changes

Several research firms have commented on CLBK. Piper Sandler upped their target price on shares of Columbia Financial from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Columbia Financial in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Columbia Financial currently has a consensus rating of “Reduce” and a consensus price target of $17.00.

Columbia Financial Trading Up 8.0%

The stock has a market capitalization of $1.83 billion, a P/E ratio of 116.90 and a beta of 0.23. The business has a 50 day simple moving average of $16.13 and a 200-day simple moving average of $15.32. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.01 and a current ratio of 1.01.

Columbia Financial (NASDAQ:CLBK) last announced its quarterly earnings data on Monday, February 2nd. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Columbia Financial had a return on equity of 4.36% and a net margin of 2.96%.The business had revenue of $68.78 million during the quarter, compared to analyst estimates of $59.20 million. On average, analysts predict that Columbia Financial will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLBK. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Columbia Financial by 73.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,122 shares of the company’s stock worth $188,000 after acquiring an additional 5,119 shares in the last quarter. SG Americas Securities LLC purchased a new position in Columbia Financial in the 4th quarter worth about $207,000. JPMorgan Chase & Co. lifted its stake in Columbia Financial by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 106,073 shares of the company’s stock valued at $1,592,000 after buying an additional 6,539 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in Columbia Financial during the third quarter valued at about $892,000. Finally, Virtus Advisers LLC acquired a new position in shares of Columbia Financial in the third quarter worth about $120,000. Institutional investors own 12.72% of the company’s stock.

About Columbia Financial

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.