Columbia Financial (NASDAQ:CLBK) Sees Strong Trading Volume - Should You Buy?

Key Points

• Columbia Financial saw unusually strong trading volume, with 1.25 million shares changing hands, while the stock slipped about 0.9% to $10.8050.
• Recent analyst sentiment is cautious: Wall Street Zen upgraded the stock to Hold, and MarketBeat shows a consensus rating of Hold with a price target of $18.50.
• The company recently reported mixed quarterly results, missing both earnings and revenue estimates, even as analysts still expect full-year EPS of 0.34.

Shares of Columbia Financial (NASDAQ:CLBK - Get Free Report) saw unusually-strong trading volume on Thursday . 1,252,668 shares changed hands during mid-day trading, a decline of 21% from the previous session's volume of 1,590,969 shares.The stock last traded at $10.8050 and had previously closed at $10.94.

Wall Street Analyst Weigh In

CLBK has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Columbia Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Weiss Ratings restated a "hold (c)" rating on shares of Columbia Financial in a research report on Friday, June 5th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Columbia Financial currently has a consensus rating of "Hold" and a consensus price target of $18.50.

Columbia Financial Trading Down 0.9%

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $2.48 billion, a P/E ratio of 43.42 and a beta of 0.25. The firm's 50-day simple moving average is $20.30 and its 200 day simple moving average is $18.55.

Columbia Financial (NASDAQ:CLBK - Get Free Report) last posted its quarterly earnings data on Monday, April 20th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $67.14 million for the quarter, compared to the consensus estimate of $70.10 million. Columbia Financial had a net margin of 10.91% and a return on equity of 5.12%. Equities research analysts anticipate that Columbia Financial will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Columbia Financial by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,384 shares of the company's stock worth $246,000 after acquiring an additional 702 shares in the last quarter. Intech Investment Management LLC boosted its position in Columbia Financial by 7.9% during 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. Invesco Ltd. grew its holdings in Columbia Financial by 2.7% during the second quarter. Invesco Ltd. now owns 40,957 shares of the company's stock valued at $594,000 after purchasing an additional 1,086 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Columbia Financial by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 17,949 shares of the company's stock valued at $260,000 after purchasing an additional 1,342 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Columbia Financial by 59.8% in the fourth quarter. Russell Investments Group Ltd. now owns 4,180 shares of the company's stock valued at $65,000 after purchasing an additional 1,564 shares during the period. Institutional investors and hedge funds 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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