Columbia Financial (NASDAQ:CLBK) Sets New 12-Month High – Time to Buy?

Shares of Columbia Financial (NASDAQ:CLBK) reached a new 52-week high on Tuesday . The company traded as high as $25.83 and last traded at $24.50, with a volume of 16711094 shares trading hands. The stock had previously closed at $23.42.

Analysts Set New Price Targets

CLBK has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Columbia Financial in a report on Friday, June 5th. Wall Street Zen upgraded shares of Columbia Financial from a “sell” rating to a “hold” rating in a report on Saturday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Columbia Financial has a consensus rating of “Hold” and an average target price of $18.50.

Columbia Financial Trading Up 4.6%

The stock has a market capitalization of $2.55 billion, a P/E ratio of 44.55 and a beta of 0.25. The stock’s fifty day moving average price is $20.63 and its 200 day moving average price is $18.62. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.99 and a quick ratio of 0.99.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CLBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Columbia Financial by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,384 shares of the company’s stock worth $246,000 after buying an additional 702 shares during the period. Intech Investment Management LLC increased its position in shares of 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 acquiring an additional 939 shares during the period. Invesco Ltd. increased its position in shares of 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 acquiring an additional 1,086 shares during the period. The Manufacturers Life Insurance Company raised its stake 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 worth $260,000 after acquiring an additional 1,342 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Columbia Financial by 59.8% in the 4th quarter. Russell Investments Group Ltd. now owns 4,180 shares of the company’s stock worth $65,000 after acquiring an additional 1,564 shares during the last quarter. 12.72% of the stock is currently owned by hedge funds and other institutional investors.

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.