Columbia Financial (NASDAQ:CLBK) Sees Large Volume Increase – What’s Next?

Shares of Columbia Financial (NASDAQ:CLBK) saw an uptick in trading volume on Friday . Approximately 719,119 shares traded hands during trading, an increase of 125% from the previous session’s volume of 319,138 shares.The stock last traded at $24.0170 and had previously closed at $22.95.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CLBK. Weiss Ratings restated a “hold (c)” rating on shares of Columbia Financial in a research report on Friday, June 5th. Wall Street Zen upgraded Columbia Financial from a “sell” rating to a “hold” rating in a report on Saturday. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.50.

Columbia Financial Trading Up 2.0%

The business’s 50-day moving average price is $20.53 and its two-hundred day moving average price is $18.53. The company has a market capitalization of $2.44 billion, a P/E ratio of 42.58 and a beta of 0.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.99 and a quick ratio of 0.99.

Columbia Financial (NASDAQ:CLBK) last announced its quarterly earnings results on Monday, April 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). The firm had revenue of $67.14 million during the quarter, compared to analyst estimates of $70.10 million. Columbia Financial had a net margin of 10.91% and a return on equity of 5.12%. As a group, analysts forecast that Columbia Financial will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL acquired a new stake in shares of Columbia Financial during the third quarter worth about $892,000. JPMorgan Chase & Co. lifted its holdings in shares of Columbia Financial by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 106,073 shares of the company’s stock valued at $1,592,000 after purchasing an additional 6,539 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Columbia Financial by 7.1% in the 1st quarter. Quantinno Capital Management LP now owns 55,718 shares of the company’s stock valued at $976,000 after purchasing an additional 3,695 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Columbia Financial by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,040,794 shares of the company’s stock valued at $35,734,000 after purchasing an additional 51,677 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Columbia Financial by 59.8% during the 4th quarter. Russell Investments Group Ltd. now owns 4,180 shares of the company’s stock worth $65,000 after purchasing an additional 1,564 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 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.