Columbia Financial (NASDAQ:CLBK) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS
by Teresa Graham · The Cerbat GemColumbia Financial (NASDAQ:CLBK – Get Free Report) released its earnings results on Monday. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01), Zacks reports. Columbia Financial had a return on equity of 4.69% and a net margin of 10.19%.
Columbia Financial Stock Down 0.8%
NASDAQ:CLBK traded down $0.15 on Monday, hitting $18.41. The stock had a trading volume of 156,060 shares, compared to its average volume of 241,616. The business’s fifty day moving average is $17.92 and its 200 day moving average is $16.50. The company has a market cap of $1.92 billion, a PE ratio of 36.10 and a beta of 0.19. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.02. Columbia Financial has a 52 week low of $12.98 and a 52 week high of $18.87.
Wall Street Analyst Weigh In
CLBK has been the subject of several recent analyst reports. Weiss Ratings raised Columbia Financial from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 24th. Brean Capital cut Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Thursday, March 12th. Finally, Piper Sandler started coverage on Columbia Financial in a research note on Monday, March 16th. They set a “neutral” rating and a $18.00 target price for the company. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Columbia Financial currently has a consensus rating of “Hold” and an average price target of $18.50.
Get Our Latest Report on Columbia Financial
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Columbia Financial by 4.5% in the first 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. Intech Investment Management LLC lifted its holdings in shares of Columbia Financial by 7.9% in the third quarter. Intech Investment Management LLC now owns 12,806 shares of the company’s stock valued at $192,000 after purchasing an additional 939 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Columbia Financial by 2.7% in the second quarter. Invesco Ltd. now owns 40,957 shares of the company’s stock valued at $594,000 after purchasing an additional 1,086 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Columbia Financial by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 17,949 shares of the company’s stock valued at $260,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Columbia Financial by 59.8% in the fourth quarter. Russell Investments Group Ltd. now owns 4,180 shares of the company’s stock valued at $65,000 after purchasing an additional 1,564 shares in the last quarter. 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.