Columbia Financial (NASDAQ:CLBK) Announces Quarterly Earnings Results

Columbia Financial (NASDAQ:CLBK) posted its quarterly earnings data on Friday. The company reported $0.14 earnings per share for the quarter, FiscalAI reports. Columbia Financial had a return on equity of 5.29% and a net margin of 11.19%.The business had revenue of $73.75 million for the quarter.

Columbia Financial Stock Performance

Shares of NASDAQ CLBK remained flat at $10.84 during midday trading on Friday. 4,665,082 shares of the stock were exchanged, compared to its average volume of 8,065,460. The company has a market cap of $2.48 billion, a P/E ratio of 32.31 and a beta of 0.23. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50-day simple moving average is $18.10 and its 200-day simple moving average is $18.14. Columbia Financial has a 1 year low of $6.21 and a 1 year high of $11.74.

Columbia Financial Dividend Announcement

The company also recently declared 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, August 12th.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CLBK. Wall Street Zen upgraded Columbia Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Columbia Financial in a report on Friday, June 5th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Columbia Financial currently has an average rating of “Hold” and a consensus price target of $18.50.

Institutional Investors Weigh In On Columbia Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Columbia Financial in the 2nd quarter valued at $51,902,000. Dimensional Fund Advisors LP grew its stake in shares of Columbia Financial by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,054,755 shares of the company’s stock worth $30,842,000 after buying an additional 10,376 shares in the last quarter. State Street Corp increased its holdings in shares of Columbia Financial by 0.3% in the 4th quarter. State Street Corp now owns 926,395 shares of the company’s stock worth $14,396,000 after buying an additional 3,090 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Columbia Financial by 12.0% in the 1st quarter. Renaissance Technologies LLC now owns 676,066 shares of the company’s stock worth $11,838,000 after buying an additional 72,334 shares during the last quarter. Finally, Creative Planning raised its position in Columbia Financial by 52.0% during the third quarter. Creative Planning now owns 184,837 shares of the company’s stock valued at $2,774,000 after purchasing an additional 63,265 shares during the period. Institutional investors own 12.72% of the company’s stock.

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.