110,174 Shares in Columbia Financial $CLBK Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 110,174 shares of Columbia Financial in the second quarter, valued at approximately $2.34 million. Other institutional investors also increased their positions, with institutions collectively owning 12.72% of the company.
• Columbia Financial reported quarterly earnings of $0.14 per share on $73.75 million in revenue, alongside a 5.29% return on equity and an 11.19% net margin.
• The company declared a quarterly dividend of $0.05, or $0.20 annualized, representing a 1.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $15.10.

Bank of New York Mellon Corp purchased a new stake in Columbia Financial (NASDAQ:CLBK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 110,174 shares of the company's stock, valued at approximately $2,338,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP raised its position in Columbia Financial by 297.5% in the 2nd quarter. Marshall Wace LLP now owns 146,678 shares of the company's stock valued at $2,128,000 after buying an additional 109,780 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Columbia Financial by 76.1% in the second quarter. First Trust Advisors LP now owns 177,198 shares of the company's stock valued at $2,571,000 after purchasing an additional 76,560 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Columbia Financial by 12.0% in the first quarter. Renaissance Technologies LLC now owns 676,066 shares of the company's stock valued at $11,838,000 after purchasing an additional 72,334 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Columbia Financial by 61.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 179,083 shares of the company's stock valued at $2,783,000 after purchasing an additional 68,162 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Columbia Financial by 109.7% in the third quarter. Two Sigma Investments LP now owns 126,592 shares of the company's stock worth $1,900,000 after purchasing an additional 66,238 shares in the last quarter. Institutional investors and hedge funds own 12.72% of the company's stock.

Columbia Financial Price Performance

NASDAQ:CLBK opened at $11.70 on Tuesday. Columbia Financial has a 12-month low of $6.21 and a 12-month high of $12.00. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 34.88 and a beta of 0.24. The stock's 50 day moving average price is $14.45 and its two-hundred day moving average price is $17.32. 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 issued its earnings results on Friday, August 7th. The company reported $0.14 EPS for the quarter. Columbia Financial had a return on equity of 5.29% and a net margin of 11.19%.The company had revenue of $73.75 million during the quarter. On average, analysts anticipate that Columbia Financial will post 0.59 earnings per share for the current year.

Columbia Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, August 12th. Columbia Financial's payout ratio is currently 58.82%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CLBK shares. Capital One Financial set a $14.00 target price on shares of Columbia Financial in a research report on Monday, August 17th. New Street Research set a $14.00 price target on shares of Columbia Financial in a research report on Monday, August 17th. Weiss Ratings upgraded shares of Columbia Financial from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Piper Sandler upgraded Columbia Financial from a "neutral" rating to an "overweight" rating and decreased their price objective for the company from $19.00 to $14.00 in a report on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods began coverage on Columbia Financial in a research report on Monday, August 17th. They issued an "outperform" rating and a $14.50 target price on the stock. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $15.10.

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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