Columbia Financial (NASDAQ:CLBK) Announces Quarterly Earnings Results

Columbia Financial (NASDAQ:CLBK) issued its quarterly earnings results on Monday. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01), Zacks reports. Columbia Financial had a return on equity of 4.69% and a net margin of 10.19%.

Columbia Financial Trading Down 0.8%

Shares of NASDAQ CLBK opened at $18.41 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.02. Columbia Financial has a 12 month low of $12.98 and a 12 month high of $18.87. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 36.10 and a beta of 0.19. The business has a fifty day simple moving average of $17.92 and a 200-day simple moving average of $16.53.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Brean Capital cut shares of Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Thursday, March 12th. Weiss Ratings raised shares of Columbia Financial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 24th. Finally, Piper Sandler began coverage on shares of Columbia Financial in a report on Monday, March 16th. They set a “neutral” rating and a $18.00 target price for the company. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.50.

Institutional Trading of Columbia Financial

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

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.