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

Columbia Financial (NASDAQ:CLBK)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $21.66 and last traded at $21.6550, with a volume of 34665 shares trading hands. The stock had previously closed at $21.38.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CLBK shares. Wall Street Zen downgraded shares of Columbia Financial from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Columbia Financial in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.50.

Columbia Financial Stock Up 2.1%

The stock has a market cap of $2.27 billion, a PE ratio of 39.63 and a beta of 0.25. The business has a 50 day moving average of $20.32 and a 200-day moving average of $18.41. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.06.

Columbia Financial (NASDAQ:CLBK) last issued its quarterly earnings data on Monday, April 20th. The company reported $0.15 earnings per share 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 analysts’ expectations of $70.10 million. Columbia Financial had a net margin of 10.91% and a return on equity of 5.12%. Equities research analysts predict that Columbia Financial will post 0.74 EPS for the current fiscal year.

Institutional Trading of Columbia Financial

A number of large investors have recently bought and sold shares of CLBK. Tudor Investment Corp ET AL acquired a new position in Columbia Financial in the third quarter valued at $892,000. JPMorgan Chase & Co. boosted its stake in shares of Columbia Financial by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 106,073 shares of the company’s stock worth $1,592,000 after buying an additional 6,539 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Columbia Financial by 7.1% during the first quarter. Quantinno Capital Management LP now owns 55,718 shares of the company’s stock worth $976,000 after buying an additional 3,695 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Columbia Financial by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,040,794 shares of the company’s stock worth $35,734,000 after buying an additional 51,677 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Columbia Financial by 59.8% during the fourth quarter. Russell Investments Group Ltd. now owns 4,180 shares of the company’s stock worth $65,000 after buying an additional 1,564 shares during the last quarter. Institutional investors and hedge funds 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.