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

Key Points

• Columbia Financial reported quarterly EPS of $0.15, beating the $0.07 consensus estimate by $0.08. The company posted a 5.12% return on equity and a 10.91% net margin.
• Shares traded at $10.95, near the top of their 52-week range of $6.21 to $11.74, while the stock carried a market capitalization of approximately $2.51 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $18.50. Institutional investors own 12.72% of the company, with several funds recently initiating or increasing positions.

Columbia Financial (NASDAQ:CLBK - Get Free Report) announced its 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. Columbia Financial had a return on equity of 5.12% and a net margin of 10.91%.

Columbia Financial Stock Performance

Shares of CLBK traded up $0.04 during mid-day trading on Thursday, hitting $10.95. The stock had a trading volume of 5,148,103 shares, compared to its average volume of 1,814,688. The firm has a market cap of $2.51 billion, a P/E ratio of 43.80 and a beta of 0.25. The business has a fifty day moving average price of $19.42 and a 200-day moving average price of $18.39. 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 52 week low of $6.21 and a 52 week high of $11.74.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Columbia Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 18th. Weiss Ratings restated a "hold (c)" rating on shares of Columbia Financial in a report on Friday, June 5th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Columbia Financial presently has a consensus rating of "Hold" and an average price target of $18.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Amundi bought a new stake in Columbia Financial in the 2nd quarter valued at about $366,000. Dynamic Technology Lab Private Ltd bought a new position in Columbia Financial during the fourth quarter worth about $342,000. Quantinno Capital Management LP boosted its position in Columbia Financial by 130.1% during the second quarter. Quantinno Capital Management LP now owns 23,297 shares of the company's stock worth $338,000 after purchasing an additional 13,171 shares during the period. Numerai GP LLC bought a new position in Columbia Financial during the fourth quarter worth about $327,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Columbia Financial by 11.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,106 shares of the company's stock worth $251,000 after purchasing an additional 1,704 shares in the last quarter. Institutional investors own 12.72% of the company's stock.

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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