Columbia Financial (NASDAQ:CLBK) Rating Lowered to “Sell” at Wall Street Zen

Columbia Financial (NASDAQ:CLBK) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other equities analysts have also issued research reports about the company. Weiss Ratings upgraded Columbia Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Brean Capital raised shares of Columbia Financial from a “neutral” rating to a “buy” rating in a research report on Monday, August 17th. New Street Research set a $14.00 price target on shares of Columbia Financial in a report on Monday, August 17th. Piper Sandler raised shares of Columbia Financial from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $19.00 to $14.00 in a research report on Tuesday, August 11th. Finally, Capital One Financial set a $14.00 price objective on shares of Columbia Financial in a research note on Monday, August 17th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.10.

Columbia Financial Stock Performance

Shares of CLBK stock opened at $11.79 on Friday. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 35.15 and a beta of 0.23. Columbia Financial has a 52-week low of $6.21 and a 52-week high of $12.00. 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 company’s 50 day moving average is $16.32 and its 200 day moving average is $17.83.

Columbia Financial (NASDAQ:CLBK) last posted its earnings results on Friday, August 7th. The company reported $0.14 earnings per share for the quarter. The company had revenue of $73.75 million during the quarter. Columbia Financial had a return on equity of 5.29% and a net margin of 11.19%. On average, sell-side analysts anticipate that Columbia Financial will post 0.59 EPS for the current fiscal year.

Institutional Trading of Columbia Financial

Several large investors have recently bought and sold shares of CLBK. BlackRock Inc. acquired a new position in Columbia Financial during the 2nd quarter valued at approximately $51,902,000. Dimensional Fund Advisors LP lifted its stake in shares of Columbia Financial by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,054,755 shares of the company’s stock worth $30,842,000 after buying an additional 10,376 shares during the period. State Street Corp lifted its stake in shares of Columbia Financial by 0.3% during the fourth quarter. State Street Corp now owns 926,395 shares of the company’s stock worth $14,396,000 after buying an additional 3,090 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Columbia Financial by 12.0% during the first quarter. Renaissance Technologies LLC now owns 676,066 shares of the company’s stock valued at $11,838,000 after buying an additional 72,334 shares during the last quarter. Finally, Creative Planning grew its holdings in shares of Columbia Financial by 52.0% during the third quarter. Creative Planning now owns 184,837 shares of the company’s stock valued at $2,774,000 after buying an additional 63,265 shares during the last quarter. Hedge funds and other 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.