Columbia Financial $CLBK Shares Purchased by Creative Planning

Creative Planning raised its stake in Columbia Financial (NASDAQ:CLBK) by 132.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,572 shares of the company’s stock after buying an additional 69,171 shares during the quarter. Creative Planning owned about 0.12% of Columbia Financial worth $1,764,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Columbia Financial by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,384 shares of the company’s stock valued at $246,000 after acquiring an additional 702 shares during the period. SeaCrest Wealth Management LLC increased its holdings in Columbia Financial by 16.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 24,100 shares of the company’s stock valued at $350,000 after purchasing an additional 3,425 shares during the last quarter. American Century Companies Inc. raised its position in Columbia Financial by 9.7% in the first quarter. American Century Companies Inc. now owns 62,411 shares of the company’s stock valued at $936,000 after purchasing an additional 5,525 shares during the period. Deutsche Bank AG lifted its stake in Columbia Financial by 39.2% during the first quarter. Deutsche Bank AG now owns 20,924 shares of the company’s stock worth $314,000 after purchasing an additional 5,892 shares in the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of Columbia Financial during the second quarter worth $141,000. Hedge funds and other institutional investors own 12.72% of the company’s stock.

Columbia Financial Trading Down 0.9%

NASDAQ:CLBK opened at $15.91 on Thursday. Columbia Financial has a 12-month low of $12.64 and a 12-month high of $18.49. The firm has a market cap of $1.66 billion, a PE ratio of 106.07 and a beta of 0.37. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.11. The stock has a fifty day moving average price of $15.03 and a 200 day moving average price of $14.80.

Columbia Financial (NASDAQ:CLBK) last posted its quarterly earnings results on Monday, October 20th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $67.25 million for the quarter, compared to analyst estimates of $56.20 million. Columbia Financial had a return on equity of 4.36% and a net margin of 2.96%. Sell-side 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 permits the company to repurchase $1.80 million in shares. This repurchase authorization permits the company to reacquire up to 0.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CLBK shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Columbia Financial in a report on Monday. Piper Sandler boosted their price target on shares of Columbia Financial from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Columbia Financial currently has an average rating of “Reduce” and a consensus target price of $17.00.

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.