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

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

A number of other research firms have also issued reports on CLBK. Brean Capital lowered shares of Columbia Financial from a “strong-buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Thursday, March 12th. Weiss Ratings restated a “hold (c)” rating on shares of Columbia Financial in a research note on Friday, June 5th. Finally, Piper Sandler began coverage on shares of Columbia Financial in a report on Monday, March 16th. They set a “neutral” rating and a $18.00 price target for the company. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $18.50.

Columbia Financial Price Performance

CLBK stock opened at $20.03 on Friday. The firm has a market cap of $2.08 billion, a P/E ratio of 36.42 and a beta of 0.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.99 and a current ratio of 0.99. Columbia Financial has a 1 year low of $13.66 and a 1 year high of $21.19. The stock has a 50-day simple moving average of $19.50 and a 200-day simple moving average of $17.90.

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

Institutional Investors Weigh In On Columbia Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Columbia Financial by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,384 shares of the company’s stock valued at $246,000 after buying an additional 702 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Columbia Financial by 459.9% in the first quarter. Jane Street Group LLC now owns 65,178 shares of the company’s stock worth $978,000 after buying an additional 53,537 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Columbia Financial by 32.5% in the second quarter. JPMorgan Chase & Co. now owns 99,534 shares of the company’s stock valued at $1,444,000 after acquiring an additional 24,390 shares in the last quarter. Legal & General Group Plc raised its holdings in Columbia Financial by 6.2% in the second quarter. Legal & General Group Plc now owns 34,035 shares of the company’s stock valued at $494,000 after acquiring an additional 1,992 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Columbia Financial by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 66,491 shares of the company’s stock valued at $965,000 after acquiring an additional 4,080 shares during the last quarter. 12.72% of the stock is currently owned by hedge funds and other institutional investors.

About Columbia Financial

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.