Columbia Financial (NASDAQ:CLBK) Cut to Hold at Brean Capital

Brean Capital cut shares of Columbia Financial (NASDAQ:CLBK) from a strong-buy rating to a hold rating in a research note published on Thursday morning, MarketBeat.com reports. They currently have $19.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Piper Sandler increased their price target on Columbia Financial from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, November 24th. Weiss Ratings raised Columbia Financial from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 24th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.00.

Columbia Financial Trading Up 0.3%

CLBK opened at $17.48 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.99 and a quick ratio of 1.01. The company’s 50-day moving average is $17.18 and its 200 day moving average is $16.05. Columbia Financial has a fifty-two week low of $12.64 and a fifty-two week high of $18.87. The firm has a market capitalization of $1.82 billion, a PE ratio of 34.28 and a beta of 0.21.

Columbia Financial (NASDAQ:CLBK) last issued its quarterly earnings data on Monday, February 2nd. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. Columbia Financial had a net margin of 10.19% and a return on equity of 4.69%. The company had revenue of $68.78 million for the quarter, compared to the consensus estimate of $59.20 million. As a group, research analysts predict that Columbia Financial will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of Columbia Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its position in Columbia Financial by 297.5% in the second quarter. Marshall Wace LLP now owns 146,678 shares of the company’s stock worth $2,128,000 after acquiring an additional 109,780 shares during the period. First Trust Advisors LP grew its position 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 valued at $2,571,000 after acquiring an additional 76,560 shares during the period. Creative Planning increased its stake in shares of Columbia Financial by 132.0% in the 2nd quarter. Creative Planning now owns 121,572 shares of the company’s stock worth $1,764,000 after purchasing an additional 69,171 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Columbia Financial by 61.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 179,083 shares of the company’s stock worth $2,783,000 after purchasing an additional 68,162 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Columbia Financial by 109.7% in the 3rd 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 period. 12.72% of the stock is 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.