Short Interest in Columbia Financial Inc (NASDAQ:CLBK) Drops By 15.9%

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Columbia Financial Inc (NASDAQ:CLBK) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,265,300 shares, a decrease of 15.9% from the July 31st total of 1,504,700 shares. Based on an average daily volume of 224,000 shares, the short-interest ratio is currently 5.6 days. Currently, 2.5% of the shares of the stock are short sold.

NASDAQ:CLBK traded up $0.07 on Thursday, hitting $15.69. The stock had a trading volume of 7,889 shares, compared to its average volume of 158,636. The company has a fifty day moving average price of $15.27 and a two-hundred day moving average price of $15.42. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 32.87 and a beta of 0.45. Columbia Financial has a 1-year low of $14.01 and a 1-year high of $16.99. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.15.

Columbia Financial (NASDAQ:CLBK) last announced its earnings results on Wednesday, July 24th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). Columbia Financial had a return on equity of 5.31% and a net margin of 19.53%. The business had revenue of $47.62 million for the quarter.

In related news, insider Mario J. Gabelli bought 8,000 shares of Columbia Financial stock in a transaction dated Friday, June 14th. The shares were acquired at an average cost of $10.35 per share, with a total value of $82,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas J. Kemly acquired 2,500 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $14.59 per share, for a total transaction of $36,475.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,500 shares of company stock valued at $133,925 in the last three months. Insiders own 0.74% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Columbia Financial by 4.3% in the second quarter. BlackRock Inc. now owns 3,781,150 shares of the company’s stock worth $57,095,000 after acquiring an additional 154,665 shares during the last quarter. Ancora Advisors LLC boosted its holdings in shares of Columbia Financial by 68.9% during the second quarter. Ancora Advisors LLC now owns 854,710 shares of the company’s stock valued at $12,906,000 after acquiring an additional 348,562 shares during the period. Northern Trust Corp lifted its holdings in Columbia Financial by 2.2% in the second quarter. Northern Trust Corp now owns 611,820 shares of the company’s stock worth $9,239,000 after purchasing an additional 13,143 shares during the period. Seidman Lawrence B raised its position in Columbia Financial by 10.7% in the first quarter. Seidman Lawrence B now owns 542,700 shares of the company’s stock worth $8,504,000 after acquiring an additional 52,500 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in Columbia Financial in the second quarter worth about $6,392,000. Institutional investors own 15.16% of the company’s stock.

Separately, Compass Point cut shares of Columbia Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $15.50 in a report on Wednesday, June 12th.

Columbia Financial Company Profile

Columbia Financial, Inc operates as the bank holding company for Columbia Bank that provides financial services to businesses and consumers in the United States. The company offers non-interest bearing demand deposits, such as individual checking and commercial checking accounts; interest-bearing demand accounts comprising interest earning checking accounts and municipal accounts; and savings and club accounts, money market accounts, and certificates of deposit.

Read More: How is a management fee different from a performance fee?

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