Columbia Financial (NASDAQ:CLBK) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Columbia Financial (NASDAQ:CLBK) announced its quarterly earnings data on Monday. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01), Zacks reports. Columbia Financial had a net margin of 10.19% and a return on equity of 4.69%.

Columbia Financial Trading Down 0.8%

Shares of NASDAQ CLBK traded down $0.15 during trading on Monday, hitting $18.41. 156,060 shares of the company were exchanged, compared to its average volume of 241,616. The firm has a market capitalization of $1.92 billion, a PE ratio of 36.10 and a beta of 0.19. Columbia Financial has a 12-month low of $12.98 and a 12-month high of $18.87. The company has a fifty day moving average price of $17.92 and a 200-day moving average price of $16.50. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 0.99.

Analyst Upgrades and Downgrades

CLBK has been the topic of several analyst reports. Weiss Ratings upgraded Columbia Financial from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 24th. Brean Capital lowered Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Thursday, March 12th. Finally, Piper Sandler initiated coverage on Columbia Financial in a report on Monday, March 16th. They set a “neutral” rating and a $18.00 price target on the stock. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Columbia Financial currently has a consensus rating of “Hold” and an average price target of $18.50.

Institutional Trading of Columbia Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Columbia Financial by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,384 shares of the company’s stock valued at $246,000 after buying an additional 702 shares during the period. Intech Investment Management LLC raised its holdings in Columbia Financial by 7.9% in the 3rd quarter. Intech Investment Management LLC now owns 12,806 shares of the company’s stock valued at $192,000 after buying an additional 939 shares during the period. Invesco Ltd. raised its holdings in Columbia Financial by 2.7% in the 2nd quarter. Invesco Ltd. now owns 40,957 shares of the company’s stock valued at $594,000 after buying an additional 1,086 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Columbia Financial by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,949 shares of the company’s stock valued at $260,000 after buying an additional 1,342 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Columbia Financial by 59.8% in the 4th quarter. Russell Investments Group Ltd. now owns 4,180 shares of the company’s stock valued at $65,000 after buying an additional 1,564 shares during the period. 12.72% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Financial Company Profile

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.