Columbia Financial $CLBK Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. decreased its holdings in Columbia Financial (NASDAQ:CLBK) by 23.2%, selling 287,077 shares during the 1st quarter.
• Columbia Financial reported $0.12 earnings per share for the last quarter, exceeding analysts' expectations of $0.11, with a revenue of $63.88 million.
• According to analysts, Columbia Financial has an average rating of "Hold" with a target price of $16.00, down from a previous target of $17.00.

T. Rowe Price Investment Management Inc. decreased its holdings in shares of Columbia Financial (NASDAQ:CLBK - Free Report) by 23.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 951,930 shares of the company's stock after selling 287,077 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 0.91% of Columbia Financial worth $14,279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in Columbia Financial by 9.7% during the 1st quarter. American Century Companies Inc. now owns 62,411 shares of the company's stock worth $936,000 after purchasing an additional 5,525 shares during the period. Nuveen LLC acquired a new position in Columbia Financial during the 1st quarter worth approximately $1,362,000. Deutsche Bank AG increased its position in Columbia Financial by 39.2% during the 1st quarter. Deutsche Bank AG now owns 20,924 shares of the company's stock worth $314,000 after purchasing an additional 5,892 shares during the period. Signaturefd LLC increased its position in Columbia Financial by 79.1% during the 1st quarter. Signaturefd LLC now owns 1,637 shares of the company's stock worth $25,000 after purchasing an additional 723 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new position in Columbia Financial during the 1st quarter worth approximately $152,000. Institutional investors and hedge funds own 12.72% of the company's stock.

Columbia Financial Stock Performance

CLBK opened at $15.35 on Monday. The stock has a market cap of $1.61 billion, a P/E ratio of 255.83 and a beta of 0.25. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.01 and a quick ratio of 1.01. The stock's 50 day simple moving average is $14.57 and its 200 day simple moving average is $14.67. Columbia Financial has a 1-year low of $12.64 and a 1-year high of $19.28.

Columbia Financial (NASDAQ:CLBK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. Columbia Financial had a return on equity of 3.58% and a net margin of 1.24%.The business had revenue of $63.88 million for the quarter, compared to analysts' expectations of $53.20 million. As a group, equities analysts anticipate that Columbia Financial will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their target price on Columbia Financial from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Columbia Financial has an average rating of "Hold" and an average price target of $16.00.

Columbia Financial Profile

Columbia Financial, Inc, a bank holding company, provides various financial services to businesses and consumers in the United States. Its deposit products include checking, interest-earning checking products and municipal, savings and club deposits, and money market accounts, as well as certificates of deposit.

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