Columbia Financial (NASDAQ:CLBK) Hits New 12-Month High – Here’s Why

Columbia Financial (NASDAQ:CLBK) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.66 and last traded at $20.60, with a volume of 9149 shares. The stock had previously closed at $20.36.

Analyst Ratings Changes

CLBK has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on shares of Columbia Financial in a research report on Monday, March 16th. They set a “neutral” rating and a $18.00 target price for the company. Brean Capital downgraded shares of Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research report on Thursday, March 12th. Wall Street Zen downgraded shares of Columbia Financial from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings raised shares of Columbia Financial from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Columbia Financial presently has an average rating of “Hold” and a consensus target price of $18.50.

Columbia Financial Price Performance

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 company’s 50-day simple moving average is $18.45 and its 200-day simple moving average is $17.26. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 37.36 and a beta of 0.24.

Columbia Financial (NASDAQ:CLBK) last issued its quarterly earnings data on Monday, April 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Columbia Financial had a net margin of 10.91% and a return on equity of 5.12%. The firm had revenue of $67.14 million during the quarter, compared to analyst estimates of $70.10 million. On average, equities research analysts anticipate that Columbia Financial will post 0.74 EPS for the current year.

Institutional Trading of Columbia Financial

Large investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL acquired a new stake in Columbia Financial in the third quarter valued at approximately $892,000. JPMorgan Chase & Co. grew its position in Columbia Financial by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 106,073 shares of the company’s stock valued at $1,592,000 after acquiring an additional 6,539 shares in the last quarter. State of Wyoming acquired a new stake in Columbia Financial in the third quarter valued at approximately $370,000. Virtus Advisers LLC acquired a new stake in Columbia Financial in the third quarter valued at approximately $120,000. Finally, Russell Investments Group Ltd. grew its position in Columbia Financial by 59.8% in the fourth quarter. Russell Investments Group Ltd. now owns 4,180 shares of the company’s stock valued at $65,000 after acquiring an additional 1,564 shares in 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.