Columbia Financial (NASDAQ:CLBK) Reaches New 1-Year High – What’s Next?

Shares of Columbia Financial (NASDAQ:CLBK) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $19.74 and last traded at $19.1660, with a volume of 557072 shares trading hands. The stock had previously closed at $19.25.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CLBK shares. Brean Capital cut Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Thursday, March 12th. Piper Sandler started coverage on Columbia Financial in a research note on Monday, March 16th. They issued a “neutral” rating and a $18.00 target price on the stock. Finally, Weiss Ratings upgraded Columbia Financial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 24th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.50.

Columbia Financial Price Performance

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $2.00 billion, a P/E ratio of 34.89 and a beta of 0.24. The business has a 50 day simple moving average of $17.96 and a 200-day simple moving average of $16.75.

Columbia Financial (NASDAQ:CLBK) last issued its quarterly earnings results on Monday, April 20th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The business had revenue of $67.14 million for the quarter, compared to analyst estimates of $70.10 million. Columbia Financial had a net margin of 10.91% and a return on equity of 5.15%. Analysts predict that Columbia Financial will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its holdings in shares of Columbia Financial by 2,322.2% during the third quarter. Russell Investments Group Ltd. now owns 2,616 shares of the company’s stock valued at $39,000 after purchasing an additional 2,508 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Columbia Financial during the third quarter valued at $63,000. Virtus Advisers LLC acquired a new position in shares of Columbia Financial during the third quarter valued at $120,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Columbia Financial during the third quarter valued at $153,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Columbia Financial during the fourth quarter valued at $168,000. 12.72% of the stock is owned by institutional investors and hedge funds.

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.