Columbia Financial (NASDAQ:CLBK) Sets New 52-Week High – Here’s Why

Columbia Financial (NASDAQ:CLBK)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $20.71 and last traded at $20.72, with a volume of 216886 shares. The stock had previously closed at $20.27.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CLBK shares. Piper Sandler started coverage on Columbia Financial in a research note on Monday, March 16th. They issued a “neutral” rating and a $18.00 price objective on the stock. Weiss Ratings raised Columbia Financial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 24th. Brean Capital lowered Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Thursday, March 12th. Finally, Wall Street Zen lowered Columbia Financial from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.

Columbia Financial Stock Performance

The firm has a market capitalization of $2.16 billion, a P/E ratio of 37.73 and a beta of 0.25. The stock has a fifty day simple moving average of $18.94 and a two-hundred day simple moving average of $17.57. 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 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). The business had revenue of $67.14 million during the quarter, compared to the consensus estimate of $70.10 million. Columbia Financial had a return on equity of 5.12% and a net margin of 10.91%. On average, research analysts predict that Columbia Financial will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Marshall Wace LLP boosted its position in Columbia Financial by 297.5% in the second quarter. Marshall Wace LLP now owns 146,678 shares of the company’s stock worth $2,128,000 after purchasing an additional 109,780 shares during the last quarter. First Trust Advisors LP boosted its position in Columbia Financial by 76.1% in the second quarter. First Trust Advisors LP now owns 177,198 shares of the company’s stock worth $2,571,000 after purchasing an additional 76,560 shares during the last quarter. Renaissance Technologies LLC boosted its position in Columbia Financial by 12.0% in the first quarter. Renaissance Technologies LLC now owns 676,066 shares of the company’s stock worth $11,838,000 after purchasing an additional 72,334 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Columbia Financial by 61.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 179,083 shares of the company’s stock worth $2,783,000 after purchasing an additional 68,162 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Columbia Financial by 109.7% during the 3rd quarter. Two Sigma Investments LP now owns 126,592 shares of the company’s stock valued at $1,900,000 after buying an additional 66,238 shares during the last quarter. Hedge funds and other institutional investors own 12.72% of the company’s stock.

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.