Columbia Financial (NASDAQ:CLBK) Reaches New 12-Month High – Still a Buy?

Columbia Financial (NASDAQ:CLBK) shares reached a new 52-week high during trading on Monday . The stock traded as high as $20.71 and last traded at $20.72, with a volume of 216886 shares changing hands. The stock had previously closed at $20.27.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CLBK shares. Brean Capital downgraded Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Thursday, March 12th. Piper Sandler initiated coverage on Columbia Financial in a report on Monday, March 16th. They set a “neutral” rating and a $18.00 price target for the company. Wall Street Zen lowered shares of Columbia Financial from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Columbia Financial in a research report on Friday. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Columbia Financial currently has an average rating of “Hold” and an average target price of $18.50.

Columbia Financial Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $19.08 and a two-hundred day simple moving average of $17.66. The company has a market cap of $2.18 billion, a PE ratio of 38.12 and a beta of 0.25.

Columbia Financial (NASDAQ:CLBK) last posted its quarterly earnings results on Monday, April 20th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $67.14 million during the quarter, compared to analyst estimates of $70.10 million. Columbia Financial had a net margin of 10.91% and a return on equity of 5.12%. On average, equities analysts predict that Columbia Financial will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.