Columbia Financial (NASDAQ:CLBK) Posts Quarterly Earnings Results

Columbia Financial (NASDAQ:CLBK) released its quarterly earnings results on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01, FiscalAI reports. Columbia Financial had a net margin of 11.19% and a return on equity of 5.25%. The business had revenue of $100.47 million for the quarter, compared to analyst estimates of $129.93 million.

Columbia Financial Trading Up 0.6%

Columbia Financial stock opened at $10.73 on Friday. Columbia Financial has a 52 week low of $6.56 and a 52 week high of $12.00. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $2.89 billion, a PE ratio of 31.99 and a beta of 0.26. The business’s 50-day simple moving average is $11.24 and its 200-day simple moving average is $16.06.

Columbia Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. Columbia Financial’s dividend payout ratio is currently 58.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods started coverage on Columbia Financial in a report on Monday, August 17th. They set an “outperform” rating and a $14.50 price target on the stock. New Street Research set a $14.00 target price on Columbia Financial in a research note on Monday, August 17th. Brean Capital upgraded Columbia Financial from a “neutral” rating to a “buy” rating in a report on Monday, August 17th. Piper Sandler raised shares of Columbia Financial from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $19.00 to $14.00 in a research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of Columbia Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.10.

Columbia Financial Company Profile

Columbia Financial, Inc is the holding company for Columbia Bank, a community-focused financial institution headquartered in Fair Lawn, New Jersey. Columbia Bank provides banking and financial services to consumers, businesses and organizations through a network of branches and digital banking channels.

The bank’s products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, consumer loans and commercial real estate and business lending.