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

Wall Street Zen lowered shares of Columbia Financial (NASDAQ:CLBK) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings raised Columbia Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Brean Capital raised Columbia Financial from a “neutral” rating to a “buy” rating in a research note on Monday, August 17th. Capital One Financial set a $14.00 price target on Columbia Financial in a research report on Monday, August 17th. New Street Research set a $14.00 price objective on Columbia Financial in a research note on Monday, August 17th. Finally, Piper Sandler raised Columbia Financial from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $19.00 to $14.00 in a research note on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.10.

Columbia Financial Stock Up 0.3%

CLBK opened at $11.79 on Friday. Columbia Financial has a twelve month low of $6.21 and a twelve month high of $12.00. 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 50-day moving average price of $16.32 and a 200 day moving average price of $17.83. The company has a market cap of $3.18 billion, a PE ratio of 35.15 and a beta of 0.23.

Columbia Financial (NASDAQ:CLBK) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.14 earnings per share for the quarter. Columbia Financial had a net margin of 11.19% and a return on equity of 5.29%. The firm had revenue of $73.75 million for the quarter. Sell-side analysts expect that Columbia Financial will post 0.59 earnings per share for the current fiscal year.

Columbia Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a $0.05 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.20 dividend on an annualized basis and a yield of 1.7%. Columbia Financial’s payout ratio is currently 58.82%.

Hedge Funds Weigh In On Columbia Financial

Large investors have recently modified their holdings of the business. USA Financial Formulas acquired a new stake in shares of Columbia Financial during the 1st quarter worth about $44,000. Russell Investments Group Ltd. raised its holdings in Columbia Financial by 2,322.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,616 shares of the company’s stock valued at $39,000 after buying an additional 2,508 shares during the period. Virtus Advisers LLC acquired a new position in Columbia Financial in the third quarter valued at about $120,000. Campbell & CO Investment Adviser LLC acquired a new position in Columbia Financial in the fourth quarter valued at about $168,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Columbia Financial by 73.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,122 shares of the company’s stock valued at $188,000 after buying an additional 5,119 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.