Columbia Financial (NASDAQ:CLBK) Issues Quarterly Earnings Results

Columbia Financial (NASDAQ:CLBK) released its earnings results on Friday. The company reported $0.14 EPS for the quarter, FiscalAI reports. Columbia Financial had a net margin of 11.19% and a return on equity of 5.29%. The company had revenue of $73.75 million for the quarter.

Columbia Financial Price Performance

Shares of CLBK opened at $10.84 on Friday. 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 business has a fifty day moving average of $18.10 and a 200 day moving average of $18.14. The company has a market cap of $2.48 billion, a PE ratio of 32.31 and a beta of 0.23. Columbia Financial has a 52-week low of $6.21 and a 52-week high of $11.74.

Columbia Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a $0.05 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. Columbia Financial’s dividend payout ratio (DPR) is currently 58.82%.

Institutional Investors Weigh In On Columbia Financial

Several hedge funds and other institutional investors have recently made changes to their positions in CLBK. USA Financial Formulas purchased a new position in shares of Columbia Financial during the 1st quarter worth about $44,000. Russell Investments Group Ltd. raised its position in Columbia Financial by 2,322.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,616 shares of the company’s stock worth $39,000 after purchasing an additional 2,508 shares during the period. Virtus Advisers LLC bought a new stake in Columbia Financial in the third quarter worth about $120,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Columbia Financial during the fourth quarter valued at approximately $168,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Columbia Financial by 73.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,122 shares of the company’s stock valued at $188,000 after buying an additional 5,119 shares during the period. Hedge funds and other institutional investors own 12.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

Columbia Financial Company Profile

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.