Columbia Financial (NASDAQ:CLBK) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Quarterly miss: Columbia Financial reported $0.15 EPS for the quarter, missing the consensus of $0.16 by $0.01, and posted a return on equity of 4.69% with a net margin of 10.19%.
• Stock and valuation: Shares fell to $18.41 (down $0.15) on light volume, leaving a market cap of $1.92B and a P/E of 36.1 amid a 52-week range of $12.98–$18.87.
• Analyst and institutional backdrop: The stock carries an average analyst rating of "Hold" with a $18.50 target, while several institutions have recently increased positions and hedge funds own about 12.72% of the shares.

Columbia Financial (NASDAQ:CLBK - Get Free Report) posted its quarterly earnings results on Monday. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01), Zacks reports. Columbia Financial had a return on equity of 4.69% and a net margin of 10.19%.

Columbia Financial Stock Performance

CLBK traded down $0.15 during trading on Monday, reaching $18.41. 156,060 shares of the company's stock were exchanged, compared to its average volume of 241,616. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $1.92 billion, a P/E ratio of 36.10 and a beta of 0.19. The company's fifty day simple moving average is $17.92 and its 200-day simple moving average is $16.50. Columbia Financial has a 1 year low of $12.98 and a 1 year high of $18.87.

Hedge Funds Weigh In On Columbia Financial

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Columbia Financial by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,054,755 shares of the company's stock valued at $30,842,000 after purchasing an additional 10,376 shares in the last quarter. State Street Corp increased its holdings in shares of 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 purchasing an additional 3,090 shares in the last quarter. Creative Planning increased its holdings in shares of 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 purchasing an additional 63,265 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Columbia Financial by 61.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 179,083 shares of the company's stock valued at $2,783,000 after purchasing an additional 68,162 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Columbia Financial by 76.1% during the 2nd quarter. First Trust Advisors LP now owns 177,198 shares of the company's stock valued at $2,571,000 after purchasing an additional 76,560 shares in the last quarter. 12.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CLBK has been the topic of several recent research reports. Weiss Ratings upgraded shares of Columbia Financial from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, February 24th. Piper Sandler initiated coverage on shares of Columbia Financial in a report on Monday, March 16th. They issued a "neutral" rating and a $18.00 price target on the stock. Finally, Brean Capital cut shares of Columbia Financial from a "strong-buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a report on Thursday, March 12th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $18.50.

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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