2,445,887 Shares in Columbia Financial $CLBK Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 2,445,887 shares of Columbia Financial in the second quarter, valued at approximately $51.9 million and representing about 1.07% of the company.
• Other institutional investors also increased their positions, bringing total institutional and hedge-fund ownership to 12.72% of Columbia Financial.
• Columbia Financial reported quarterly EPS of $0.14 and paid a $0.05 quarterly dividend, while analysts maintained a “Moderate Buy” consensus with an average price target of $15.10.

BlackRock Inc. bought a new stake in Columbia Financial (NASDAQ:CLBK - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,445,887 shares of the company's stock, valued at approximately $51,902,000. BlackRock Inc. owned approximately 1.07% of Columbia Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Columbia Financial during the second quarter worth about $2,338,000. Marshall Wace LLP raised its stake in shares of 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 acquiring an additional 109,780 shares during the period. First Trust Advisors LP raised its stake in shares of Columbia Financial by 76.1% in the 2nd quarter. First Trust Advisors LP now owns 177,198 shares of the company's stock valued at $2,571,000 after acquiring an additional 76,560 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Columbia Financial by 12.0% in the 1st quarter. Renaissance Technologies LLC now owns 676,066 shares of the company's stock worth $11,838,000 after acquiring an additional 72,334 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Columbia Financial by 61.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 179,083 shares of the company's stock worth $2,783,000 after purchasing an additional 68,162 shares during the period. 12.72% of the stock is owned by institutional investors and hedge funds.

Columbia Financial Stock Performance

Shares of CLBK stock opened at $11.62 on Tuesday. The stock's 50-day moving average is $15.32 and its two-hundred day moving average is $17.55. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 34.64 and a beta of 0.23. Columbia Financial has a 1 year low of $6.21 and a 1 year high of $12.00. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.99 and a current ratio of 0.99.

Columbia Financial (NASDAQ:CLBK - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $73.75 million during the quarter. Columbia Financial had a return on equity of 5.29% and a net margin of 11.19%. Analysts predict 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 paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $0.20 annualized dividend and a yield of 1.7%. Columbia Financial's dividend payout ratio is currently 58.82%.

Wall Street Analysts Forecast Growth

CLBK has been the topic of several research analyst reports. Weiss Ratings upgraded Columbia Financial from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods assumed coverage on Columbia Financial in a report on Monday, August 17th. They set an "outperform" rating and a $14.50 target price for the company. Capital One Financial set a $14.00 target price on Columbia Financial in a research report on Monday, August 17th. Brean Capital upgraded shares of Columbia Financial from a "neutral" rating to a "buy" rating in a research note on Monday, August 17th. Finally, Wall Street Zen cut shares of Columbia Financial from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $15.10.

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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