Columbia Financial (NASDAQ:CLBK) Sets New 52-Week High – Time to Buy?

Columbia Financial (NASDAQ:CLBK) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.66 and last traded at $21.6550, with a volume of 34665 shares changing hands. The stock had previously closed at $21.38.

Wall Street Analysts Forecast Growth

CLBK has been the subject of several research analyst reports. Wall Street Zen cut Columbia Financial from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Columbia Financial in a report on Friday, June 5th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Columbia Financial Trading Up 4.3%

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.06. The firm’s 50 day simple moving average is $20.45 and its two-hundred day simple moving average is $18.50. The stock has a market cap of $2.39 billion, a P/E ratio of 41.73 and a beta of 0.25.

Columbia Financial (NASDAQ:CLBK) last issued its earnings results 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). Columbia Financial had a return on equity of 5.12% and a net margin of 10.91%.The business had revenue of $67.14 million for the quarter, compared to analyst estimates of $70.10 million. As a group, equities research analysts predict that Columbia Financial will post 0.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Columbia Financial

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its holdings in shares of Columbia Financial by 2,322.2% during the third quarter. Russell Investments Group Ltd. now owns 2,616 shares of the company’s stock valued at $39,000 after purchasing an additional 2,508 shares during the last quarter. Virtus Advisers LLC bought a new stake in shares of Columbia Financial in the 3rd quarter worth approximately $120,000. Campbell & CO Investment Adviser LLC acquired a new position in Columbia Financial during the 4th quarter valued at approximately $168,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Columbia Financial by 73.1% during the 4th 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. Finally, Intech Investment Management LLC grew its stake in Columbia Financial by 7.9% during the 3rd quarter. Intech Investment Management LLC now owns 12,806 shares of the company’s stock worth $192,000 after buying an additional 939 shares during the last quarter. Institutional investors own 12.72% of the company’s stock.

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.