Columbia Financial (NASDAQ:CLBK) Coverage Initiated by Analysts at Brean Capital

Key Points

• Brean Capital initiated coverage on Columbia Financial with a neutral rating and a $19.00 price target, implying about 9% upside from the previous close.
• Analysts' consensus remains Hold with a consensus price target of $18.00; the stock recently traded at $17.43, has a 12-month range of $12.64–$18.87, and a market cap of $1.81 billion.
• Columbia Financial reported quarterly EPS of $0.15 (in line with estimates) while revenue of $68.78 million beat expectations, and analysts forecast roughly $0.43 EPS for the current fiscal year.

Equities researchers at Brean Capital started coverage on shares of Columbia Financial (NASDAQ:CLBK - Get Free Report) in a note issued to investors on Thursday. The brokerage set a "neutral" rating and a $19.00 price target on the stock. Brean Capital's target price would suggest a potential upside of 9.01% from the company's previous close.

Other analysts have also recently issued reports about the stock. Weiss Ratings raised shares of Columbia Financial from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, February 24th. Piper Sandler boosted their target price on Columbia Financial from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, November 24th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.00.

Columbia Financial Price Performance

Shares of NASDAQ CLBK traded down $0.24 during midday trading on Thursday, reaching $17.43. 348,995 shares of the company traded hands, compared to its average volume of 243,837. Columbia Financial has a 12 month low of $12.64 and a 12 month high of $18.87. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.01 and a current ratio of 0.99. The stock's 50-day simple moving average is $17.10 and its 200-day simple moving average is $16.02. The firm has a market cap of $1.81 billion, a PE ratio of 34.18 and a beta of 0.21.

Columbia Financial (NASDAQ:CLBK - Get Free Report) last posted its earnings results on Monday, February 2nd. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. Columbia Financial had a net margin of 10.19% and a return on equity of 4.69%. The business had revenue of $68.78 million for the quarter, compared to analyst estimates of $59.20 million. As a group, equities analysts anticipate that Columbia Financial will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Columbia Financial

Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in shares of 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 in the last quarter. State of Alaska Department of Revenue bought a new position in Columbia Financial in the 3rd quarter worth approximately $63,000. Virtus Advisers LLC bought a new position in Columbia Financial in the 3rd quarter worth approximately $120,000. Vanguard Personalized Indexing Management LLC acquired a new position in Columbia Financial during the 3rd quarter worth $153,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Columbia Financial in the 4th quarter valued at $168,000. 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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