Columbia Financial (NASDAQ:CLBK) Stock Price Down 0.6% - What's Next?

Key Points

• Shares of Columbia Financial (CLBK) fell about 0.6% to $17.67 on Wednesday, trading as low as $17.65 on volume of 357,892 shares (roughly 38% above the average session volume).
• Analysts maintain a consensus Hold rating with a $17.00 target; Piper Sandler nudged its target to $17 and Weiss Ratings upgraded the stock from sell to hold.
• Fundamentals: Q4 EPS matched estimates at $0.15 while revenue beat at $68.78M; the stock trades at a P/E of 34.65 with a $1.84B market cap, and institutional ownership is about 12.7% with several funds modestly increasing stakes.

Columbia Financial (NASDAQ:CLBK - Get Free Report) shares traded down 0.6% on Wednesday . The stock traded as low as $17.65 and last traded at $17.67. 357,892 shares changed hands during trading, an increase of 38% from the average session volume of 258,651 shares. The stock had previously closed at $17.78.

Wall Street Analysts Forecast Growth

CLBK has been the topic of a number of analyst reports. Piper Sandler boosted their price objective on shares of Columbia Financial from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, November 24th. Weiss Ratings upgraded shares of Columbia Financial from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, February 24th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Columbia Financial has a consensus rating of "Hold" and a consensus target price of $17.00.

Columbia Financial Stock Performance

The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 1.02. The company has a market cap of $1.84 billion, a P/E ratio of 34.65 and a beta of 0.21. The business has a fifty day moving average of $17.10 and a 200 day moving average of $16.02.

Columbia Financial (NASDAQ:CLBK - Get Free Report) last announced its quarterly earnings results on Monday, February 2nd. The company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15. Columbia Financial had a return on equity of 4.69% and a net margin of 10.19%.The company had revenue of $68.78 million during the quarter, compared to analyst estimates of $59.20 million. On average, equities analysts predict that Columbia Financial will post 0.43 EPS for the current year.

Institutional Investors Weigh In On Columbia Financial

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Columbia Financial by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,384 shares of the company's stock worth $246,000 after purchasing an additional 702 shares during the period. Intech Investment Management LLC lifted 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 valued at $192,000 after buying an additional 939 shares during the period. Invesco Ltd. boosted its holdings in shares of Columbia Financial by 2.7% during the 2nd quarter. Invesco Ltd. now owns 40,957 shares of the company's stock valued at $594,000 after buying an additional 1,086 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Columbia Financial by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,949 shares of the company's stock worth $260,000 after buying an additional 1,342 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Columbia Financial by 59.8% in 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 period. 12.72% of the stock is currently owned by institutional investors.

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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