Columbia Financial (NASDAQ:CLBK) Issues Earnings Results

Columbia Financial (NASDAQ:CLBK) announced its quarterly earnings data on Friday. The company reported $0.14 earnings per share for the quarter, FiscalAI reports. Columbia Financial had a net margin of 11.19% and a return on equity of 5.29%. The business had revenue of $73.75 million for the quarter.

Columbia Financial Price Performance

CLBK remained flat at $10.84 during midday trading on Friday. 4,665,082 shares of the company’s stock traded hands, compared to its average volume of 1,937,430. The stock’s 50 day simple moving average is $18.10 and its 200 day simple moving average is $18.14. The stock has a market cap of $2.48 billion, a P/E ratio of 32.31 and a beta of 0.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.06. Columbia Financial has a 12-month low of $6.21 and a 12-month high of $11.74.

Columbia Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, August 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CLBK. USA Financial Formulas bought a new position in shares of Columbia Financial in the first quarter valued at approximately $44,000. Russell Investments Group Ltd. increased its position in Columbia Financial by 2,322.2% in the third quarter. Russell Investments Group Ltd. now owns 2,616 shares of the company’s stock worth $39,000 after buying an additional 2,508 shares during the last quarter. Virtus Advisers LLC bought a new stake in Columbia Financial in the 3rd quarter valued at about $120,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Columbia Financial in the fourth quarter valued at approximately $168,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Columbia Financial by 73.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,122 shares of the company’s stock worth $188,000 after acquiring an additional 5,119 shares in the last quarter. 12.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CLBK has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Columbia Financial in a report on Friday, June 5th. Wall Street Zen upgraded Columbia Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Columbia Financial has a consensus rating of “Hold” and an average price target of $18.50.

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.