Brean Capital Begins Coverage on Columbia Financial (NASDAQ:CLBK)

Equities research analysts at Brean Capital assumed coverage on shares of Columbia Financial (NASDAQ:CLBK) in a note issued to investors on Thursday. The brokerage set a “neutral” rating and a $19.00 price target on the stock. Brean Capital’s price objective points to a potential upside of 8.70% from the company’s current price.

A number of other brokerages have also recently issued reports on CLBK. Piper Sandler increased their price objective on shares of Columbia Financial from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, November 24th. Weiss Ratings upgraded shares of Columbia Financial from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Columbia Financial Trading Up 0.3%

Shares of CLBK stock opened at $17.48 on Thursday. The company has a market capitalization of $1.82 billion, a PE ratio of 34.28 and a beta of 0.21. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.01 and a current ratio of 0.99. The business’s fifty day moving average is $17.18 and its 200 day moving average is $16.05. Columbia Financial has a 52-week low of $12.64 and a 52-week high of $18.87.

Columbia Financial (NASDAQ:CLBK) last announced its earnings results on Monday, February 2nd. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. Columbia Financial had a net margin of 10.19% and a return on equity of 4.69%. The company had revenue of $68.78 million during the quarter, compared to analyst estimates of $59.20 million. On average, equities research analysts anticipate that Columbia Financial will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Columbia Financial

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. increased its holdings in Columbia Financial by 2,322.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,616 shares of the company’s stock worth $39,000 after purchasing an additional 2,508 shares during the period. State of Alaska Department of Revenue acquired a new stake in Columbia Financial in the third quarter valued at approximately $63,000. Virtus Advisers LLC purchased a new position in Columbia Financial in the third quarter worth approximately $120,000. Vanguard Personalized Indexing Management LLC purchased a new position in Columbia Financial in the third quarter worth approximately $153,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Columbia Financial during the 4th quarter worth approximately $168,000. 12.72% of the stock is currently 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.