Columbia Financial (NASDAQ:CLBK) Stock Rating Upgraded by Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods upgraded Columbia Financial to “moderate buy,” joining other analysts who have recently raised their ratings. The stock has an overall “Moderate Buy” consensus and a $15.10 target price.
• Columbia Financial opened at $11.68, compared with a 12-month high of $12.00, and reported quarterly EPS of $0.14 on $73.75 million in revenue.
• Institutional investors increased their exposure, including BlackRock’s $51.9 million new position and Marshall Wace’s 297.5% increase in holdings; institutions collectively own 12.72% of the company.

Columbia Financial (NASDAQ:CLBK - Get Free Report) was upgraded by Keefe, Bruyette & Woods to a "moderate buy" rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on CLBK. Weiss Ratings upgraded Columbia Financial from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Columbia Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Piper Sandler upgraded shares of Columbia Financial from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $19.00 to $14.00 in a research note on Tuesday, August 11th. New Street Research set a $14.00 target price on shares of Columbia Financial in a report on Monday. Finally, Brean Capital raised shares of Columbia Financial from a "neutral" rating to a "buy" rating in a research report on Monday. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Columbia Financial currently has an average rating of "Moderate Buy" and a consensus target price of $15.10.

Columbia Financial Price Performance

NASDAQ CLBK opened at $11.68 on Monday. The company has a 50 day moving average price of $17.05 and a two-hundred day moving average price of $17.96. Columbia Financial has a 12-month low of $6.21 and a 12-month high of $12.00. The stock has a market capitalization of $3.15 billion, a PE ratio of 34.82 and a beta of 0.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.06.

Columbia Financial (NASDAQ:CLBK - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $73.75 million during the quarter. Columbia Financial had a net margin of 11.19% and a return on equity of 5.29%. As a group, equities analysts predict that Columbia Financial will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Columbia Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Columbia Financial during the 2nd quarter valued at $51,902,000. PEAK6 LLC acquired a new stake in Columbia Financial in the 2nd quarter worth $2,693,000. Bank of New York Mellon Corp bought a new position in shares of Columbia Financial during the 2nd quarter worth about $2,338,000. Marshall Wace LLP increased its holdings in shares of Columbia Financial by 297.5% during the 2nd quarter. Marshall Wace LLP now owns 146,678 shares of the company's stock worth $2,128,000 after purchasing an additional 109,780 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Columbia Financial by 76.1% during the second quarter. First Trust Advisors LP now owns 177,198 shares of the company's stock valued at $2,571,000 after buying an additional 76,560 shares during the last quarter. Institutional investors 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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