Columbia Financial (NASDAQ:CLBK) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Columbia Financial (NASDAQ:CLBKGet Free Report) released its quarterly earnings results on Thursday. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.08, Zacks reports. The business had revenue of $73.75 million during the quarter, compared to analyst estimates of $71.15 million. Columbia Financial had a return on equity of 5.29% and a net margin of 11.19%.

Columbia Financial Price Performance

Shares of Columbia Financial stock opened at $10.81 on Friday. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 32.23 and a beta of 0.25. 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 stock’s 50-day simple moving average is $19.04 and its 200-day simple moving average is $18.31. Columbia Financial has a 52 week low of $6.21 and a 52 week high of $11.74.

Columbia Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, August 12th.

Institutional Trading of Columbia Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in Columbia Financial by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,054,755 shares of the company’s stock worth $30,842,000 after purchasing an additional 10,376 shares in the last quarter. State Street Corp grew its holdings in Columbia Financial by 0.3% during the 4th quarter. State Street Corp now owns 926,395 shares of the company’s stock valued at $14,396,000 after buying an additional 3,090 shares in the last quarter. Creative Planning grew its holdings in Columbia Financial by 52.0% during the 3rd quarter. Creative Planning now owns 184,837 shares of the company’s stock valued at $2,774,000 after buying an additional 63,265 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Columbia Financial by 61.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 179,083 shares of the company’s stock valued at $2,783,000 after buying an additional 68,162 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Columbia Financial by 76.1% in the second quarter. First Trust Advisors LP now owns 177,198 shares of the company’s stock worth $2,571,000 after buying an additional 76,560 shares in the last quarter. Institutional investors own 12.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Columbia Financial in a research note on Friday, June 5th. Wall Street Zen upgraded Columbia Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.50.

View Our Latest Stock Report on Columbia Financial

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.

See Also

Earnings History for Columbia Financial (NASDAQ:CLBK)

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