Columbia Financial (NASDAQ:CLBK) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Columbia Financial from “sell” to “hold,” while Weiss Ratings also reiterated a hold view. MarketBeat says the stock’s overall consensus rating is now Hold, with a consensus price target of $18.50.
• The shares were trading higher and opened at $23.42, near the 52-week high of $24.09. The stock has a market cap of $2.44 billion and has risen above both its 50-day and 200-day moving averages.
• Latest earnings were slightly below expectations, with quarterly EPS of $0.15 versus $0.16 expected and revenue of $67.14 million versus $70.10 million forecast. Analysts currently expect Columbia Financial to earn $0.74 per share for the full fiscal year.

Columbia Financial (NASDAQ:CLBK - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Columbia Financial in a report on Friday, June 5th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $18.50.

Columbia Financial Trading Up 2.0%

Shares of Columbia Financial stock opened at $23.42 on Friday. The firm has a market capitalization of $2.44 billion, a PE ratio of 42.58 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 firm's 50 day moving average is $20.53 and its 200 day moving average is $18.53. Columbia Financial has a 1 year low of $13.66 and a 1 year high of $24.09.

Columbia Financial (NASDAQ:CLBK - Get Free Report) last issued its quarterly earnings data 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 net margin of 10.91% and a return on equity of 5.12%. The company had revenue of $67.14 million during the quarter, compared to the consensus estimate of $70.10 million. Equities research analysts forecast that Columbia Financial will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Columbia Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 valued at $246,000 after buying an additional 702 shares during the period. Jane Street Group LLC boosted its position in Columbia Financial by 459.9% during the 1st quarter. Jane Street Group LLC now owns 65,178 shares of the company's stock worth $978,000 after buying an additional 53,537 shares during the period. JPMorgan Chase & Co. boosted its position in Columbia Financial by 32.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 99,534 shares of the company's stock worth $1,444,000 after buying an additional 24,390 shares during the period. Legal & General Group Plc grew its holdings in Columbia Financial by 6.2% during the 2nd quarter. Legal & General Group Plc now owns 34,035 shares of the company's stock worth $494,000 after acquiring an additional 1,992 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Columbia Financial by 6.5% in the 2nd quarter. American Century Companies Inc. now owns 66,491 shares of the company's stock valued at $965,000 after acquiring an additional 4,080 shares during the period. 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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