Columbia Financial (NASDAQ:CLBK) Hits New 52-Week High – Time to Buy?

Columbia Financial (NASDAQ:CLBK)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $25.83 and last traded at $24.50, with a volume of 16711094 shares. The stock had previously closed at $23.42.

Wall Street Analyst Weigh In

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

Columbia Financial Trading Down 1.3%

The stock has a 50 day simple moving average of $20.30 and a 200-day simple moving average of $18.55. The firm has a market capitalization of $2.50 billion, a P/E ratio of 43.76 and a beta of 0.25. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.06.

Columbia Financial (NASDAQ:CLBK) last issued its quarterly earnings data on Monday, April 20th. The company reported $0.15 earnings per share 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 the consensus estimate of $70.10 million. Columbia Financial had a return on equity of 5.12% and a net margin of 10.91%. On average, equities research analysts forecast that Columbia Financial will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Columbia Financial by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,054,755 shares of the company’s stock worth $30,842,000 after purchasing an additional 10,376 shares during the period. State Street Corp grew its holdings in Columbia Financial by 0.3% during the fourth quarter. State Street Corp now owns 926,395 shares of the company’s stock valued at $14,396,000 after purchasing an additional 3,090 shares during the period. Renaissance Technologies LLC increased its position in Columbia Financial by 12.0% in the first quarter. Renaissance Technologies LLC now owns 676,066 shares of the company’s stock worth $11,838,000 after buying an additional 72,334 shares in the last quarter. Creative Planning increased its position in Columbia Financial by 52.0% in the third quarter. Creative Planning now owns 184,837 shares of the company’s stock worth $2,774,000 after buying an additional 63,265 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Columbia Financial by 61.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 179,083 shares of the company’s stock worth $2,783,000 after buying an additional 68,162 shares during the period. Hedge funds and other institutional investors own 12.72% of the company’s stock.

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.