PEAK6 LLC Invests $2.69 Million in Columbia Financial $CLBK

PEAK6 LLC purchased a new stake in Columbia Financial (NASDAQ:CLBK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 126,887 shares of the company’s stock, valued at approximately $2,693,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. USA Financial Formulas acquired a new stake in Columbia Financial in the first quarter valued at $44,000. Russell Investments Group Ltd. grew its stake in shares of Columbia Financial by 2,322.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,616 shares of the company’s stock worth $39,000 after purchasing an additional 2,508 shares during the period. Virtus Advisers LLC purchased a new position in shares of Columbia Financial in the 3rd quarter valued at about $120,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Columbia Financial in the 4th quarter valued at about $168,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Columbia Financial by 73.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,122 shares of the company’s stock valued at $188,000 after purchasing an additional 5,119 shares during the period. Institutional investors and hedge funds own 12.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CLBK. Weiss Ratings upgraded shares of Columbia Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Piper Sandler raised Columbia Financial from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $19.00 to $14.00 in a research note on Tuesday, August 11th. Capital One Financial set a $14.00 price target on Columbia Financial in a report on Monday, August 17th. Keefe, Bruyette & Woods initiated coverage on Columbia Financial in a research note on Monday, August 17th. They issued an “outperform” rating and a $14.50 price objective for the company. Finally, Wall Street Zen downgraded Columbia Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.10.

Columbia Financial Price Performance

CLBK stock opened at $11.79 on Monday. 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 $16.32 and its 200-day simple moving average is $17.83. Columbia Financial has a 12 month low of $6.21 and a 12 month high of $12.00. The firm has a market capitalization of $3.18 billion, a PE ratio of 35.15 and a beta of 0.23.

Columbia Financial (NASDAQ:CLBK) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $73.75 million during the quarter. Columbia Financial had a return on equity of 5.29% and a net margin of 11.19%. Equities analysts expect that Columbia Financial will post 0.59 earnings per share for the current fiscal year.

Columbia Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, August 12th. Columbia Financial’s dividend payout ratio is currently 58.82%.

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.