Columbia Financial (NASDAQ:CLBK) Sees Strong Trading Volume – Here’s Why

Columbia Financial (NASDAQ:CLBK) saw unusually-high trading volume on Tuesday . 2,768,897 shares were traded during trading, an increase of 42% from the previous session’s volume of 1,955,002 shares.The stock last traded at $11.0250 and had previously closed at $10.81.

Wall Street Analysts Forecast Growth

A number of analysts have 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. Piper Sandler upgraded Columbia Financial from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $19.00 to $14.00 in a research note on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Columbia Financial in a report on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Columbia Financial has an average rating of “Hold” and a consensus target price of $16.50.

Columbia Financial Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $17.92 and a two-hundred day simple moving average of $18.12. The company has a market cap of $2.52 billion, a PE ratio of 32.78 and a beta of 0.23.

Columbia Financial (NASDAQ:CLBK) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $73.75 million for the quarter. Columbia Financial had a return on equity of 5.29% and a net margin of 11.19%. On average, equities analysts predict that Columbia Financial will post 0.33 EPS for the current fiscal year.

Columbia Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.05 per share. 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 modified their holdings of the business. Russell Investments Group Ltd. lifted its position in shares of Columbia Financial by 2,322.2% in the third quarter. Russell Investments Group Ltd. now owns 2,616 shares of the company’s stock valued at $39,000 after acquiring an additional 2,508 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Columbia Financial during the first quarter worth $44,000. Virtus Advisers LLC purchased a new stake in shares of Columbia Financial in the third quarter valued at $120,000. Campbell & CO Investment Adviser LLC purchased a new position in Columbia Financial during the fourth quarter worth about $168,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Columbia Financial by 73.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,122 shares of the company’s stock worth $188,000 after buying an additional 5,119 shares during the last quarter. 12.72% of the stock is owned by hedge funds and other institutional investors.

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.