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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CLBK shares. Wall Street Zen lowered shares of Columbia Financial from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Columbia Financial in a research report on Friday, June 5th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, Columbia Financial currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Columbia Financial Stock Performance

The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 39.63 and a beta of 0.25. 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 stock has a 50-day moving average price of $20.32 and a 200 day moving average price of $18.41.

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 the consensus estimate of $0.16 by ($0.01). Columbia Financial had a net margin of 10.91% and a return on equity of 5.12%. The firm had revenue of $67.14 million during the quarter, compared to analyst estimates of $70.10 million. On average, analysts forecast that Columbia Financial will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Columbia Financial

A number of institutional investors and hedge funds have recently modified their holdings of CLBK. Bank of America Corp DE raised its stake in Columbia Financial by 8.5% in the first quarter. Bank of America Corp DE now owns 48,450 shares of the company’s stock valued at $848,000 after buying an additional 3,798 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Columbia Financial by 7.1% during the 1st quarter. Quantinno Capital Management LP now owns 55,718 shares of the company’s stock worth $976,000 after acquiring an additional 3,695 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Columbia Financial by 12.0% during the 1st quarter. Renaissance Technologies LLC now owns 676,066 shares of the company’s stock worth $11,838,000 after acquiring an additional 72,334 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Columbia Financial by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,040,794 shares of the company’s stock valued at $35,734,000 after acquiring an additional 51,677 shares during the last quarter. Finally, Numerai GP LLC acquired a new stake in shares of Columbia Financial during the 4th quarter worth about $327,000. Institutional investors and hedge funds 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.