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

Columbia Financial (NASDAQ:CLBK)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $21.27 and last traded at $21.2780, with a volume of 189245 shares. The stock had previously closed at $21.03.

Wall Street Analysts Forecast Growth

Several research firms have commented on CLBK. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Columbia Financial in a report on Friday, June 5th. Wall Street Zen cut Columbia Financial from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Brean Capital lowered Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Thursday, March 12th. Finally, Piper Sandler started coverage on Columbia Financial in a research report on Monday, March 16th. They set a “neutral” rating and a $18.00 price target for the company. Three investment 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 Stock Performance

The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $2.21 billion, a PE ratio of 38.61 and a beta of 0.25. The firm’s 50 day moving average price is $19.74 and its 200-day moving average price is $18.06.

Columbia Financial (NASDAQ:CLBK) last announced its quarterly 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). The business had revenue of $67.14 million during the quarter, compared to analysts’ expectations of $70.10 million. Columbia Financial had a net margin of 10.91% and a return on equity of 5.12%. On average, research analysts expect that Columbia Financial will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Columbia Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 valued at $246,000 after purchasing an additional 702 shares in the last quarter. Jane Street Group LLC raised its position in shares of Columbia Financial by 459.9% during the 1st quarter. Jane Street Group LLC now owns 65,178 shares of the company’s stock worth $978,000 after purchasing an additional 53,537 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Columbia Financial by 32.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 99,534 shares of the company’s stock valued at $1,444,000 after buying an additional 24,390 shares in the last quarter. Legal & General Group Plc boosted its holdings in Columbia Financial by 6.2% in the 2nd quarter. Legal & General Group Plc now owns 34,035 shares of the company’s stock worth $494,000 after buying an additional 1,992 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Columbia Financial by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 66,491 shares of the company’s stock worth $965,000 after buying an additional 4,080 shares in the last quarter. 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.