Columbia Financial (NASDAQ:CLBK) Shares Gap Down – Should You Sell?

Columbia Financial (NASDAQ:CLBK)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $15.38, but opened at $14.72. Columbia Financial shares last traded at $15.17, with a volume of 3,876 shares.

Columbia Financial Stock Down 0.6%

The company has a market cap of $1.60 billion, a P/E ratio of 254.83 and a beta of 0.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $14.77 and its 200 day moving average is $14.61.

Columbia Financial (NASDAQ:CLBK) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $63.88 million during the quarter, compared to the consensus estimate of $53.20 million. Columbia Financial had a net margin of 1.24% and a return on equity of 3.58%. As a group, equities analysts anticipate that Columbia Financial will post 0.43 earnings per share for the current fiscal year.

Columbia Financial declared that its Board of Directors has initiated a share repurchase program on Monday, September 8th that allows the company to buyback $1.80 million in outstanding shares. This buyback authorization allows the company to repurchase up to 0.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Columbia Financial

A number of large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Columbia Financial by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,682 shares of the company’s stock worth $248,000 after purchasing an additional 684 shares in the last quarter. Signaturefd LLC increased its position in shares of Columbia Financial by 79.1% during the first quarter. Signaturefd LLC now owns 1,637 shares of the company’s stock worth $25,000 after purchasing an additional 723 shares in the last quarter. Invesco Ltd. increased its position in shares of Columbia Financial by 2.7% during the second quarter. Invesco Ltd. now owns 40,957 shares of the company’s stock worth $594,000 after purchasing an additional 1,086 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Columbia Financial by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 17,949 shares of the company’s stock worth $260,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Columbia Financial by 6.2% during the second quarter. Legal & General Group Plc now owns 34,035 shares of the company’s stock worth $494,000 after purchasing an additional 1,992 shares in the last quarter. 12.72% of the stock is owned by institutional investors and hedge funds.

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.