Columbia Financial (NASDAQ:CLBK) Reaches New 52-Week High - Time to Buy?

Key Points

• Columbia Financial hit a new 52-week high, trading as high as $18.91 (last $18.82) and was up about 3.0% on the session, with a 50-day SMA of $17.91 and 200-day SMA of $16.64.
• Analysts have a consensus rating of Hold with a consensus target price of $18.50; recent notes include Weiss upgrading to hold, Brean downgrading to neutral ($19 target), and Piper Sandler initiating at neutral ($18 target).
• The company recently missed quarterly expectations, reporting $0.15 EPS vs. $0.16 expected and $67.14M revenue vs. $70.10M expected; Columbia Financial has a market cap of about $1.99 billion and a P/E of 34.69.

Columbia Financial (NASDAQ:CLBK - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $18.91 and last traded at $18.82, with a volume of 67748 shares. The stock had previously closed at $18.52.

Analyst Upgrades and Downgrades

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

Columbia Financial Trading Up 3.0%

The firm has a 50 day simple moving average of $17.91 and a 200 day simple moving average of $16.64. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $1.99 billion, a P/E ratio of 34.69 and a beta of 0.19.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL bought a new position in shares of Columbia Financial in the third quarter worth $892,000. JPMorgan Chase & Co. increased its holdings in shares of Columbia Financial by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 106,073 shares of the company's stock worth $1,592,000 after purchasing an additional 6,539 shares during the period. Intech Investment Management LLC increased its holdings in shares of Columbia Financial by 7.9% in the third quarter. Intech Investment Management LLC now owns 12,806 shares of the company's stock worth $192,000 after purchasing an additional 939 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of Columbia Financial in the fourth quarter worth $168,000. Finally, Virtus Advisers LLC bought a new position in shares of Columbia Financial in the third quarter worth $120,000. Institutional investors own 12.72% of the company's stock.

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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