Columbia Financial (NASDAQ:CLBK) Reaches New 1-Year High - What's Next?

Key Points

• Columbia Financial's stock reached a new 52-week high of $19.74 on Monday (last trade $19.1660) on volume of ~557,072 shares, trading above its 50-day and 200-day moving averages of $17.96 and $16.75.
• Despite the rally, analysts hold a consensus Hold rating with an average price target of $18.50; recent research notes include Brean Capital cutting to Neutral ($19) and Piper Sandler initiating coverage at Neutral ($18).
• The company missed quarterly estimates (EPS $0.15 vs $0.16; revenue $67.14M vs $70.10M), trades at a P/E of 34.89 with a $2.0B market cap, and has relatively low institutional ownership at 12.72%.

Columbia Financial (NASDAQ:CLBK - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $19.74 and last traded at $19.1660, with a volume of 557072 shares changing hands. The stock had previously closed at $19.25.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Brean Capital cut Columbia Financial from a "strong-buy" rating to a "neutral" rating and set a $19.00 target price for the company. in a research note on Thursday, March 12th. Piper Sandler assumed coverage on Columbia Financial in a research note on Monday, March 16th. They set a "neutral" rating and a $18.00 target price for the company. Finally, Weiss Ratings upgraded Columbia Financial from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, February 24th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Columbia Financial presently has an average rating of "Hold" and a consensus price target of $18.50.

Columbia Financial Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 34.89 and a beta of 0.24. The company has a 50-day moving average of $17.96 and a 200-day moving average of $16.75.

Columbia Financial (NASDAQ:CLBK - Get Free Report) last posted its quarterly earnings results on Monday, April 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). The firm had revenue of $67.14 million for the quarter, compared to analyst estimates of $70.10 million. Columbia Financial had a net margin of 10.91% and a return on equity of 5.15%. On average, equities research analysts forecast that Columbia Financial will post 0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Columbia Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Numerai GP LLC acquired a new stake in shares of Columbia Financial during the 4th quarter valued at approximately $327,000. Balyasny Asset Management L.P. acquired a new stake in shares of Columbia Financial during the 4th quarter valued at approximately $235,000. AQR Capital Management LLC boosted its position in Columbia Financial by 10.0% during the 4th quarter. AQR Capital Management LLC now owns 26,031 shares of the company's stock valued at $405,000 after purchasing an additional 2,368 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Columbia Financial by 11.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,106 shares of the company's stock valued at $251,000 after purchasing an additional 1,704 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Columbia Financial by 59.8% during the 4th quarter. Russell Investments Group Ltd. now owns 4,180 shares of the company's stock worth $65,000 after buying an additional 1,564 shares during the last quarter. 12.72% of the stock is owned by institutional investors and hedge funds.

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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