Columbia Financial (NASDAQ:CLBK) Announces Earnings Results

Columbia Financial (NASDAQ:CLBK) released its quarterly earnings results on Thursday. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08, Zacks reports. Columbia Financial had a net margin of 10.91% and a return on equity of 5.12%.

Columbia Financial Stock Performance

Shares of Columbia Financial stock traded up $0.04 during midday trading on Thursday, hitting $10.95. The company had a trading volume of 5,148,103 shares, compared to its average volume of 1,814,688. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $2.51 billion, a PE ratio of 43.80 and a beta of 0.25. The business’s 50 day simple moving average is $19.42 and its two-hundred day simple moving average is $18.39. Columbia Financial has a 1-year low of $6.21 and a 1-year high of $11.74.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Columbia Financial in a research note on Friday, June 5th. Wall Street Zen upgraded shares of Columbia Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.50.

Institutional Trading of Columbia Financial

Institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Columbia Financial by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,384 shares of the company’s stock worth $246,000 after buying an additional 702 shares in the last quarter. Jane Street Group LLC boosted its position in Columbia Financial by 459.9% in the 1st quarter. Jane Street Group LLC now owns 65,178 shares of the company’s stock valued at $978,000 after buying an additional 53,537 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Columbia Financial by 32.5% during the second quarter. JPMorgan Chase & Co. now owns 99,534 shares of the company’s stock valued at $1,444,000 after acquiring an additional 24,390 shares during the period. Legal & General Group Plc boosted its stake in shares of Columbia Financial by 6.2% in the 2nd quarter. Legal & General Group Plc now owns 34,035 shares of the company’s stock valued at $494,000 after purchasing an additional 1,992 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Columbia Financial by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 66,491 shares of the company’s stock worth $965,000 after acquiring an additional 4,080 shares during the period. Institutional investors and hedge funds own 12.72% of the company’s stock.

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.