Columbia Financial (NASDAQ:CLBK – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $25.83 and last traded at $24.50, with a volume of 16711094 shares. The stock had previously closed at $23.42.
Analyst Ratings Changes
A number of brokerages recently commented on CLBK. Wall Street Zen upgraded Columbia Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Columbia Financial in a research note on Friday, June 5th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.50.
View Our Latest Stock Analysis on Columbia Financial
Columbia Financial Trading Up 4.6%
Columbia Financial (NASDAQ:CLBK – Get Free Report) last posted 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 for the quarter, compared to analysts’ expectations of $70.10 million. As a group, sell-side analysts forecast that Columbia Financial will post 0.74 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Columbia Financial by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,384 shares of the company’s stock worth $246,000 after acquiring an additional 702 shares in the last quarter. Intech Investment Management LLC boosted its position in Columbia Financial by 7.9% during the third quarter. Intech Investment Management LLC now owns 12,806 shares of the company’s stock worth $192,000 after purchasing an additional 939 shares in the last quarter. Invesco Ltd. grew its holdings in Columbia Financial by 2.7% in the second quarter. Invesco Ltd. now owns 40,957 shares of the company’s stock valued at $594,000 after purchasing an additional 1,086 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Columbia Financial by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 17,949 shares of the company’s stock valued at $260,000 after purchasing an additional 1,342 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Columbia Financial by 59.8% in the fourth quarter. Russell Investments Group Ltd. now owns 4,180 shares of the company’s stock valued at $65,000 after buying an additional 1,564 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.
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