Columbia Financial (NASDAQ:CLBK) Sets New 52-Week High – Here’s Why

Columbia Financial (NASDAQ:CLBK) hit a new 52-week high during trading on Monday . The company traded as high as $20.71 and last traded at $20.72, with a volume of 216886 shares trading hands. The stock had previously closed at $20.27.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CLBK shares. Piper Sandler started coverage on Columbia Financial in a research report on Monday, March 16th. They set a “neutral” rating and a $18.00 price target on the stock. Brean Capital cut 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. Weiss Ratings raised Columbia Financial from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. Finally, Wall Street Zen cut Columbia Financial from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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 company has a market capitalization of $2.16 billion, a P/E ratio of 37.73 and a beta of 0.25. The business has a 50 day moving average of $18.94 and a 200-day moving average of $17.57.

Columbia Financial (NASDAQ:CLBK) last released its quarterly earnings data 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 company had revenue of $67.14 million for 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%. On average, sell-side analysts predict that Columbia Financial will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Columbia Financial

Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake 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 worth $39,000 after acquiring an additional 2,508 shares during the last quarter. Virtus Advisers LLC bought a new position in Columbia Financial in the 3rd quarter worth about $120,000. Vanguard Personalized Indexing Management LLC bought a new position in Columbia Financial in the 3rd quarter worth about $153,000. Campbell & CO Investment Adviser LLC bought a new position in Columbia Financial in the 4th quarter worth about $168,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Columbia Financial by 73.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,122 shares of the company’s stock worth $188,000 after acquiring an additional 5,119 shares during the last quarter. 12.72% of the stock is currently owned by 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.