Columbia Financial (NASDAQ:CLBK) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Columbia Financial saw unusually heavy trading, with 719,119 shares changing hands on Friday, up 125% from the prior session. The stock rose to $24.02 from a previous close of $22.95.
• Analyst sentiment remains cautious: the stock has an average Hold rating and a consensus target price of $18.50, while Wall Street Zen recently downgraded it to Sell.
• The company recently missed quarterly expectations, reporting $0.15 EPS versus the $0.16 estimate and revenue of $67.14 million versus $70.10 million expected. Despite that, analysts still project full-year EPS of $0.74.

Columbia Financial (NASDAQ:CLBK - Get Free Report) shares saw unusually-high trading volume on Friday . 719,119 shares were traded during trading, an increase of 125% from the previous session's volume of 319,138 shares.The stock last traded at $24.0170 and had previously closed at $22.95.

Analyst Ratings Changes

Several equities analysts recently issued reports on CLBK shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Columbia Financial in a research report on Friday, June 5th. Wall Street Zen downgraded shares of Columbia Financial from a "hold" rating to a "sell" rating in a report on Sunday, June 21st. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $18.50.

Columbia Financial Stock Performance

The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 42.21 and a beta of 0.25. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.06. The stock's 50 day moving average is $20.45 and its two-hundred day moving average is $18.50.

Columbia Financial (NASDAQ:CLBK - Get Free Report) last released its earnings results on Monday, April 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01). Columbia Financial had a return on equity of 5.12% and a net margin of 10.91%.The firm had revenue of $67.14 million for the quarter, compared to the consensus estimate of $70.10 million. Analysts expect that Columbia Financial will post 0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLBK. Russell Investments Group Ltd. lifted its stake in Columbia Financial by 2,322.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,616 shares of the company's stock valued at $39,000 after acquiring an additional 2,508 shares in the last quarter. Virtus Advisers LLC bought a new position in shares of Columbia Financial during the 3rd quarter worth approximately $120,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Columbia Financial during the 4th quarter worth approximately $168,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Columbia Financial by 73.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,122 shares of the company's stock worth $188,000 after acquiring an additional 5,119 shares in the last quarter. Finally, Intech Investment Management LLC raised 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 valued at $192,000 after purchasing an additional 939 shares during the last quarter. 12.72% of the stock is currently owned by institutional investors.

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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