Columbia Financial (NASDAQ:CLBK) Sees Large Volume Increase – Should You Buy?

Columbia Financial (NASDAQ:CLBK) saw unusually-strong trading volume on Thursday . Approximately 1,252,668 shares were traded during trading, a decline of 21% from the previous session’s volume of 1,590,969 shares.The stock last traded at $10.8050 and had previously closed at $10.94.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Columbia Financial in a report on Friday, June 5th. Wall Street Zen raised shares of Columbia Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.50.

Columbia Financial Price Performance

The firm’s fifty day simple moving average is $19.95 and its 200 day simple moving average is $18.47. The firm has a market cap of $2.49 billion, a P/E ratio of 43.52 and a beta of 0.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.99 and a current ratio of 0.99.

Institutional Investors Weigh In On Columbia Financial

A number of hedge funds have recently made changes to their positions in CLBK. Marshall Wace LLP grew its holdings in Columbia Financial by 297.5% during the 2nd quarter. Marshall Wace LLP now owns 146,678 shares of the company’s stock valued at $2,128,000 after buying an additional 109,780 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Columbia Financial by 76.1% during the 2nd quarter. First Trust Advisors LP now owns 177,198 shares of the company’s stock worth $2,571,000 after acquiring an additional 76,560 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Columbia Financial by 12.0% during the 1st quarter. Renaissance Technologies LLC now owns 676,066 shares of the company’s stock valued at $11,838,000 after acquiring an additional 72,334 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Columbia Financial by 61.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 179,083 shares of the company’s stock valued at $2,783,000 after purchasing an additional 68,162 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in Columbia Financial by 109.7% in the third quarter. Two Sigma Investments LP now owns 126,592 shares of the company’s stock worth $1,900,000 after purchasing an additional 66,238 shares during the last quarter. 12.72% of the stock is currently owned by hedge funds and other institutional investors.

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.