Columbia Financial (NASDAQ:CLBK) Releases Earnings Results, Meets Estimates

Columbia Financial (NASDAQ:CLBK) posted its quarterly earnings data on Monday. The company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15, FiscalAI reports. The business had revenue of $68.78 million during the quarter, compared to the consensus estimate of $59.20 million. Columbia Financial had a net margin of 2.96% and a return on equity of 4.36%.

Columbia Financial Stock Down 0.3%

Shares of CLBK opened at $16.27 on Monday. The stock has a 50 day moving average price of $16.13 and a 200 day moving average price of $15.32. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 108.47 and a beta of 0.23. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.01 and a current ratio of 1.01. Columbia Financial has a one year low of $12.64 and a one year high of $17.40.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler lifted 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 reaffirmed a “sell (d+)” rating on shares of Columbia Financial in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $17.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Virtus Advisers LLC acquired a new position in Columbia Financial in the third quarter valued at $120,000. Millennium Management LLC lifted its holdings in Columbia Financial by 84.7% in the 3rd quarter. Millennium Management LLC now owns 46,338 shares of the company’s stock worth $696,000 after buying an additional 21,254 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Columbia Financial by 21.7% in the third quarter. Bank of America Corp DE now owns 53,752 shares of the company’s stock worth $807,000 after acquiring an additional 9,589 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Columbia Financial by 12.3% in the third quarter. Alliancebernstein L.P. now owns 49,350 shares of the company’s stock worth $741,000 after buying an additional 5,400 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Columbia Financial in the 3rd quarter worth about $217,000. Hedge funds and other 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.