Keefe, Bruyette & Woods upgraded shares of Columbia Financial (NASDAQ:CLBK – Free Report) to a moderate buy rating in a research report report published on Monday,Zacks.com reports.
Other research analysts also recently issued reports about the company. Brean Capital upgraded Columbia Financial from a “neutral” rating to a “buy” rating in a research note on Monday. Weiss Ratings upgraded Columbia Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Columbia Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. New Street Research set a $14.00 target price on Columbia Financial in a report on Monday. Finally, Piper Sandler raised shares of Columbia Financial from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $19.00 to $14.00 in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Columbia Financial has a consensus rating of “Moderate Buy” and a consensus target price of $15.10.
Check Out Our Latest Stock Analysis on Columbia Financial
Columbia Financial Stock Performance
Columbia Financial (NASDAQ:CLBK – Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $73.75 million for the quarter. Columbia Financial had a return on equity of 5.29% and a net margin of 11.19%. Analysts predict that Columbia Financial will post 0.48 earnings per share for the current fiscal year.
Columbia Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 12th. Columbia Financial’s dividend payout ratio is 58.82%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in Columbia Financial by 2,322.2% during the third quarter. Russell Investments Group Ltd. now owns 2,616 shares of the company’s stock worth $39,000 after purchasing an additional 2,508 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Columbia Financial during the 1st quarter worth $44,000. Virtus Advisers LLC bought a new position in shares of Columbia Financial in the third quarter worth about $120,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Columbia Financial in the fourth quarter worth about $168,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Columbia Financial by 73.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,122 shares of the company’s stock valued at $188,000 after purchasing an additional 5,119 shares in the last quarter. 12.72% of the stock is owned by institutional investors.
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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