Columbia Financial (NASDAQ:CLBK – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $19.80 and last traded at $19.7540, with a volume of 16810 shares changing hands. The stock had previously closed at $19.57.
Analyst Ratings Changes
A number of brokerages have recently issued reports on CLBK. Brean Capital downgraded Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Thursday, March 12th. Piper Sandler began 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. Weiss Ratings upgraded Columbia Financial from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. Finally, Wall Street Zen downgraded Columbia Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Columbia Financial currently has a consensus rating of “Hold” and an average price target of $18.50.
Read Our Latest Stock Analysis on Columbia Financial
Columbia Financial Stock Up 1.1%
Columbia Financial (NASDAQ:CLBK – Get Free Report) last released 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 firm 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 anticipate that Columbia Financial will post 0.74 EPS for the current fiscal year.
Hedge Funds Weigh In On Columbia Financial
Large investors have recently bought and sold shares of the stock. Quantinno Capital Management LP lifted its position in Columbia Financial by 7.1% in the first quarter. Quantinno Capital Management LP now owns 55,718 shares of the company’s stock valued at $976,000 after purchasing an additional 3,695 shares during the last quarter. Renaissance Technologies LLC lifted 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 valued at $11,838,000 after purchasing an additional 72,334 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Columbia Financial by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,040,794 shares of the company’s stock valued at $35,734,000 after purchasing an additional 51,677 shares during the last quarter. Numerai GP LLC bought a new stake in Columbia Financial in the fourth quarter valued at approximately $327,000. Finally, Balyasny Asset Management L.P. bought a new stake in Columbia Financial in the fourth quarter valued at approximately $235,000. 12.72% of the stock is owned by hedge funds and other institutional investors.
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.
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