Columbia Financial (NASDAQ:CLBK) Shares Up 6.6% – Here’s Why

Columbia Financial (NASDAQ:CLBKGet Free Report) traded up 6.6% during mid-day trading on Monday . The company traded as high as $25.50 and last traded at $24.9650. 2,738,789 shares changed hands during trading, an increase of 634% from the average daily volume of 372,924 shares. The stock had previously closed at $23.42.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Columbia Financial in a research note on Friday, June 5th. Wall Street Zen raised shares of Columbia Financial from a “sell” rating to a “hold” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.50.

View Our Latest Stock Analysis on Columbia Financial

Columbia Financial Stock Performance

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 company has a fifty day simple moving average of $20.47 and a 200 day simple moving average of $18.59.

Columbia Financial (NASDAQ:CLBKGet Free Report) last issued 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 company had revenue of $67.14 million for the quarter, compared to the consensus estimate 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 predict that Columbia Financial will post 0.74 EPS for the current year.

Institutional Trading of Columbia Financial

A number of institutional investors and hedge funds have recently bought and sold shares of CLBK. Dimensional Fund Advisors LP lifted its stake in shares of Columbia Financial by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,054,755 shares of the company’s stock worth $30,842,000 after buying an additional 10,376 shares in the last quarter. State Street Corp increased its position in shares of Columbia Financial by 0.3% during the fourth quarter. State Street Corp now owns 926,395 shares of the company’s stock valued at $14,396,000 after acquiring an additional 3,090 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Columbia Financial by 12.0% during the first quarter. Renaissance Technologies LLC now owns 676,066 shares of the company’s stock valued at $11,838,000 after acquiring an additional 72,334 shares in the last quarter. Creative Planning raised its holdings in Columbia Financial by 52.0% in the 3rd quarter. Creative Planning now owns 184,837 shares of the company’s stock worth $2,774,000 after acquiring an additional 63,265 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Columbia Financial by 61.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 179,083 shares of the company’s stock worth $2,783,000 after acquiring an additional 68,162 shares during the last quarter. 12.72% of the stock is currently owned by institutional investors.

Columbia Financial Company Profile

(Get Free Report)

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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