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

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

Analyst Ratings Changes

CLBK has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Columbia Financial in a research note on Monday, December 29th. Piper Sandler upped their price target on Columbia Financial from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $17.00.

Columbia Financial Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11. The stock’s 50 day moving average price is $16.13 and its two-hundred day moving average price is $15.32. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 116.90 and a beta of 0.23.

Columbia Financial (NASDAQ:CLBK) last issued its earnings results on Monday, February 2nd. The company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. Columbia Financial had a return on equity of 4.36% and a net margin of 2.96%.The firm had revenue of $68.78 million for the quarter, compared to the consensus estimate of $59.20 million. Analysts anticipate that Columbia Financial will post 0.43 EPS for the current fiscal year.

Institutional Trading of Columbia Financial

A number of institutional investors have recently added to or reduced their stakes in CLBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Columbia Financial by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,384 shares of the company’s stock valued at $246,000 after purchasing an additional 702 shares in the last quarter. Intech Investment Management LLC raised its holdings in 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 buying an additional 939 shares in the last quarter. Invesco Ltd. raised its holdings in Columbia Financial by 2.7% during the second quarter. Invesco Ltd. now owns 40,957 shares of the company’s stock valued at $594,000 after buying an additional 1,086 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Columbia Financial by 8.1% in the second 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, Legal & General Group Plc boosted its stake in shares of Columbia Financial by 6.2% during the 2nd quarter. Legal & General Group Plc now owns 34,035 shares of the company’s stock worth $494,000 after acquiring an additional 1,992 shares in the last quarter. 12.72% of the stock is currently owned by institutional investors and hedge funds.

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.