Columbia Financial (NASDAQ:CLBK) Stock Price Up 0.7% – What’s Next?

Shares of Columbia Financial (NASDAQ:CLBK) traded up 0.7% during trading on Thursday . The company traded as high as $17.02 and last traded at $16.86. 115,461 shares traded hands during mid-day trading, an increase of 6% from the average session volume of 108,783 shares. The stock had previously closed at $16.74.

Analyst Ratings Changes

CLBK has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Columbia Financial from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Columbia Financial in a research note on Monday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $17.00.

Columbia Financial Stock Up 0.7%

The company has a market capitalization of $1.76 billion, a PE ratio of 112.40 and a beta of 0.25. The business’s 50-day simple moving average is $15.53 and its 200-day simple moving average is $15.01. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.11.

Columbia Financial (NASDAQ:CLBK) last posted its earnings results on Monday, October 20th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Columbia Financial had a net margin of 2.96% and a return on equity of 4.36%. The company had revenue of $67.25 million during the quarter, compared to the consensus estimate of $56.20 million. As a group, equities research analysts anticipate that Columbia Financial will post 0.43 EPS for the current fiscal year.

Columbia Financial declared that its Board of Directors has authorized a stock repurchase plan on Monday, September 8th that authorizes the company to buyback $1.80 million in shares. This buyback authorization authorizes the company to purchase up to 0.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Columbia Financial

Several large investors have recently made changes to their positions in the company. Creative Planning boosted its holdings in Columbia Financial by 132.0% during the second quarter. Creative Planning now owns 121,572 shares of the company’s stock worth $1,764,000 after buying an additional 69,171 shares in the last quarter. Deutsche Bank AG boosted its position in Columbia Financial by 39.2% during the first quarter. Deutsche Bank AG now owns 20,924 shares of the company’s stock worth $314,000 after purchasing an additional 5,892 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Columbia Financial in the second quarter valued at approximately $353,000. CW Advisors LLC acquired a new stake in Columbia Financial in the first quarter valued at approximately $1,095,000. Finally, Nuveen LLC purchased a new stake in shares of Columbia Financial in the first quarter valued at approximately $1,362,000. 12.72% of the stock is currently owned by institutional investors and hedge funds.

Columbia Financial Company Profile

Columbia Financial, Inc, a bank holding company, provides various financial services to businesses and consumers in the United States. Its deposit products include checking, interest-earning checking products and municipal, savings and club deposits, and money market accounts, as well as certificates of deposit.