Columbia Financial (NASDAQ:CLBK) to Buyback $1.80 million in Shares

Key Points

• Columbia Financial's Board of Directors has authorized a $1.80 million stock repurchase program, indicating management's belief that the stock may be undervalued.
• The company's shares experienced a 0.5% increase, reaching $15.09, with an average trading volume of 92,962 shares.
• Columbia Financial reported a quarterly EPS of $0.12, surpassing the consensus estimate of $0.11, with revenues of $63.88 million for the quarter.

Columbia Financial (NASDAQ:CLBK - Get Free Report) declared that its board has authorized a stock buyback plan on Monday, September 8th, RTT News reports. The company plans to repurchase $1.80 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 0.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Columbia Financial Stock Performance

Columbia Financial stock traded down $0.09 during trading hours on Friday, hitting $15.29. The company had a trading volume of 121,142 shares, compared to its average volume of 103,634. The firm has a market cap of $1.60 billion, a PE ratio of 254.83 and a beta of 0.32. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.01 and a quick ratio of 1.01. Columbia Financial has a one year low of $12.64 and a one year high of $19.28. The firm has a 50-day moving average of $14.77 and a 200 day moving average of $14.61.

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, beating the consensus estimate of $0.11 by $0.01. The firm had revenue of $63.88 million for the quarter, compared to analysts' expectations of $53.20 million. Columbia Financial had a net margin of 1.24% and a return on equity of 3.58%. On average, sell-side analysts expect that Columbia Financial will post 0.43 earnings per share for the current year.

About Columbia Financial

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.