Columbia Financial (NASDAQ:CLBK) Stock Price Up 0.7% – Time to Buy?

Columbia Financial (NASDAQ:CLBK)’s stock price was up 0.7% during trading on Thursday . The company traded as high as $17.02 and last traded at $16.86. Approximately 115,461 shares traded hands during trading, an increase of 6% from the average daily volume of 108,783 shares. The stock had previously closed at $16.74.

Analyst Ratings Changes

A number of analysts recently issued reports on CLBK shares. Piper Sandler boosted their price target on Columbia Financial from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Columbia Financial in a research report on Monday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $17.00.

Columbia Financial Trading Up 0.7%

The company has a market capitalization of $1.76 billion, a PE ratio of 112.40 and a beta of 0.25. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average is $15.53 and its 200-day moving average is $15.01.

Columbia Financial (NASDAQ:CLBK) last announced its earnings results on Monday, October 20th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $67.25 million for the quarter, compared to analysts’ expectations of $56.20 million. Columbia Financial had a return on equity of 4.36% and a net margin of 2.96%. On average, analysts anticipate that Columbia Financial will post 0.43 EPS for the current fiscal year.

Columbia Financial announced that its Board of Directors has authorized a share repurchase plan on Monday, September 8th that authorizes the company to buyback $1.80 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Columbia Financial

Large investors have recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in shares of Columbia Financial by 132.0% during the 2nd quarter. Creative Planning now owns 121,572 shares of the company’s stock valued at $1,764,000 after purchasing an additional 69,171 shares during the last quarter. Deutsche Bank AG grew its stake in Columbia Financial by 39.2% during the 1st quarter. Deutsche Bank AG now owns 20,924 shares of the company’s stock worth $314,000 after buying an additional 5,892 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Columbia Financial during the 2nd quarter valued at about $353,000. CW Advisors LLC acquired a new position in Columbia Financial during the 1st quarter valued at about $1,095,000. Finally, Nuveen LLC purchased a new stake in Columbia Financial in the first quarter valued at about $1,362,000. 12.72% of the stock is currently owned by institutional investors.

Columbia Financial Company Profile

Columbia Financial, Inc, a bank holding company, provides various financial services to businesses and consumers in the United States. Its deposit products include checking, interest-earning checking products and municipal, savings and club deposits, and money market accounts, as well as certificates of deposit.