Columbia Financial (NASDAQ:CLBK) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Columbia Financial to “Sell” from “Hold,” although other analysts remain more optimistic. The stock has three Buy ratings and one Hold rating, with a consensus rating of “Moderate Buy” and a $15.10 price target.
• CLBK opened at $11.79, near its 52-week high of $12.00, with a $3.18 billion market capitalization and a P/E ratio of 35.15. Its 50-day and 200-day moving averages were substantially higher at $16.32 and $17.83, respectively.
• Columbia Financial reported quarterly earnings of $0.14 per share on revenue of $73.75 million, while institutional ownership stood at 12.72% after several investors increased or initiated positions.

Columbia Financial (NASDAQ:CLBK - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Several other equities research analysts have also commented on CLBK. Brean Capital raised shares of Columbia Financial from a "neutral" rating to a "buy" rating in a research report on Monday, August 17th. Piper Sandler raised shares of Columbia Financial from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $19.00 to $14.00 in a report on Tuesday, August 11th. Capital One Financial set a $14.00 target price on shares of Columbia Financial in a research report on Monday. New Street Research set a $14.00 target price on shares of Columbia Financial in a report on Monday. Finally, Weiss Ratings upgraded shares of Columbia Financial from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $15.10.

Columbia Financial Stock Performance

CLBK stock opened at $11.79 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.99 and a quick ratio of 0.99. Columbia Financial has a 1 year low of $6.21 and a 1 year high of $12.00. The company has a market cap of $3.18 billion, a P/E ratio of 35.15 and a beta of 0.23. The stock's fifty day moving average price is $16.32 and its 200-day moving average price is $17.83.

Columbia Financial (NASDAQ:CLBK - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $0.14 earnings per share for the quarter. The company 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%. On average, equities analysts forecast that Columbia Financial will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On Columbia Financial

Institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Columbia Financial by 9.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 96,373 shares of the company's stock valued at $2,045,000 after purchasing an additional 8,173 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Columbia Financial during the 2nd quarter valued at approximately $1,544,000. Jupiter Topco LLC bought a new position in shares of Columbia Financial during the 2nd quarter valued at approximately $381,000. Legal & General Group Plc purchased a new position in shares of Columbia Financial in the second quarter valued at $476,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Columbia Financial in the second quarter valued at $315,000. 12.72% of the stock is owned by hedge funds and other institutional investors.

About Columbia Financial

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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