Columbia Financial (NASDAQ:CLBK) Announces Earnings Results

Columbia Financial (NASDAQ:CLBK) issued its quarterly earnings data on Thursday. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.07 by $0.08, Zacks reports. The company had revenue of $73.75 million for the quarter, compared to analyst estimates of $71.15 million. Columbia Financial had a return on equity of 5.12% and a net margin of 10.91%.

Columbia Financial Price Performance

Shares of NASDAQ CLBK traded down $0.14 during midday trading on Friday, hitting $10.81. The stock had a trading volume of 1,630,700 shares, compared to its average volume of 1,812,229. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.06. The stock has a 50 day simple moving average of $19.23 and a 200-day simple moving average of $18.36. The company has a market capitalization of $2.48 billion, a PE ratio of 43.22 and a beta of 0.25. Columbia Financial has a 1 year low of $6.21 and a 1 year high of $11.74.

Columbia Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, August 12th.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CLBK. Wall Street Zen upgraded Columbia Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings restated a “hold (c)” rating on shares of Columbia Financial in a research report on Friday, June 5th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Columbia Financial has an average rating of “Hold” and a consensus target price of $18.50.

Institutional Inflows and Outflows

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

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.