Columbia Financial (NASDAQ:CLBK) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Columbia Financial (NASDAQ:CLBK) from a hold rating to a sell rating in a report issued on Saturday.

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

Columbia Financial Stock Down 0.7%

CLBK stock opened at $19.57 on Friday. Columbia Financial has a 12-month low of $13.66 and a 12-month high of $19.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.06. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 35.58 and a beta of 0.24. The company has a 50 day moving average of $18.18 and a two-hundred day moving average of $17.03.

Columbia Financial (NASDAQ:CLBK) last released its earnings results on Monday, April 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Columbia Financial had a return on equity of 5.12% and a net margin of 10.91%.The company had revenue of $67.14 million during the quarter, compared to analysts’ expectations of $70.10 million. On average, equities analysts anticipate that Columbia Financial will post 0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CLBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $246,000 after purchasing an additional 702 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Columbia Financial by 459.9% during the 1st quarter. Jane Street Group LLC now owns 65,178 shares of the company’s stock worth $978,000 after purchasing an additional 53,537 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Columbia Financial by 32.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 99,534 shares of the company’s stock worth $1,444,000 after purchasing an additional 24,390 shares during the last quarter. Legal & General Group Plc increased 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 purchasing an additional 1,992 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Columbia Financial by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 66,491 shares of the company’s stock worth $965,000 after purchasing an additional 4,080 shares during the last quarter. Institutional investors and hedge funds own 12.72% of the company’s stock.

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.