Columbia Financial (NASDAQ:CLBK) Sees Unusually-High Trading Volume – What’s Next?

Columbia Financial (NASDAQ:CLBK) shares saw strong trading volume on Friday . Approximately 719,119 shares changed hands during trading, an increase of 125% from the previous session’s volume of 319,138 shares.The stock last traded at $24.0170 and had previously closed at $22.95.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Columbia Financial from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Weiss Ratings restated a “hold (c)” rating on shares of Columbia Financial in a research note on Friday, June 5th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.50.

Columbia Financial Stock Performance

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 stock has a 50 day simple moving average of $20.45 and a two-hundred day simple moving average of $18.50. The stock has a market capitalization of $2.43 billion, a P/E ratio of 42.21 and a beta of 0.25.

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

Hedge Funds Weigh In On Columbia Financial

A number of institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Columbia Financial by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,384 shares of the company’s stock worth $246,000 after acquiring an additional 702 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Columbia Financial by 7.9% in the 3rd quarter. Intech Investment Management LLC now owns 12,806 shares of the company’s stock valued at $192,000 after acquiring an additional 939 shares during the period. Invesco Ltd. increased its stake in shares of Columbia Financial by 2.7% during the 2nd quarter. Invesco Ltd. now owns 40,957 shares of the company’s stock worth $594,000 after purchasing an additional 1,086 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Columbia Financial by 8.1% in the 2nd 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 during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Columbia Financial by 59.8% in the 4th 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 during the period. 12.72% of the stock is currently owned by institutional investors and hedge funds.

About Columbia Financial

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.