Columbia Financial (NASDAQ:CLBK) Reaches New 12-Month High – What’s Next?

Columbia Financial (NASDAQ:CLBK)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $19.80 and last traded at $19.7540, with a volume of 16810 shares. The stock had previously closed at $19.57.

Analyst Ratings Changes

Several brokerages have commented on CLBK. Wall Street Zen cut shares of Columbia Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Brean Capital cut shares of Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 price target on the stock. 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 set a “neutral” rating and a $18.00 price target on the stock. Finally, Weiss Ratings raised 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, the company presently has an average rating of “Hold” and a consensus price target of $18.50.

Columbia Financial Stock Performance

The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s fifty day moving average price is $18.24 and its 200-day moving average price is $17.11. The company has a market capitalization of $2.04 billion, a P/E ratio of 35.65 and a beta of 0.24.

Columbia Financial (NASDAQ:CLBK) last issued 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). The firm had revenue of $67.14 million during the quarter, compared to the consensus estimate of $70.10 million. Columbia Financial had a net margin of 10.91% and a return on equity of 5.12%. As a group, research analysts anticipate that Columbia Financial will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Columbia Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Columbia Financial by 4.5% in 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 during the period. Intech Investment Management LLC raised its holdings in shares of Columbia Financial by 7.9% in the 3rd quarter. Intech Investment Management LLC now owns 12,806 shares of the company’s stock valued at $192,000 after purchasing an additional 939 shares during the period. Invesco Ltd. raised its holdings 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 purchasing an additional 1,086 shares during the period. The Manufacturers Life Insurance Company grew 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 valued at $260,000 after buying an additional 1,342 shares during the last quarter. Finally, Russell Investments Group Ltd. grew 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 valued at $65,000 after buying an additional 1,564 shares during the last quarter. 12.72% of the stock is owned by 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.