Zacks: Brokerages Set $15.50 Target Price for Columbia Financial Inc (NASDAQ:CLBK)

Columbia Financial Inc (NASDAQ:CLBK) has earned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation. Columbia Financial’s rating score has declined by 50% from 90 days ago as a result of a number of analysts’ ratings changes.

Brokerages have set a 12 month consensus price objective of $15.50 for the company, according to Zacks. Zacks has also assigned Columbia Financial an industry rank of 103 out of 255 based on the ratings given to its competitors.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in Columbia Financial by 971.5% during the second quarter. Bank of Montreal Can now owns 4,404 shares of the company’s stock valued at $67,000 after acquiring an additional 3,993 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Columbia Financial by 42.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,421 shares of the company’s stock valued at $70,000 after acquiring an additional 1,307 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in Columbia Financial during the second quarter valued at $185,000. Skandinaviska Enskilda Banken AB publ bought a new position in Columbia Financial during the second quarter valued at $220,000. Finally, Raymond James Trust N.A. bought a new position in Columbia Financial during the second quarter valued at $221,000. 15.22% of the stock is currently owned by institutional investors.

Columbia Financial stock traded down $0.13 during mid-day trading on Tuesday, reaching $16.37. 91,600 shares of the company’s stock traded hands, compared to its average volume of 167,165. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 33.20 and a beta of 0.47. The stock has a 50 day moving average of $16.25 and a two-hundred day moving average of $15.57. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.15. Columbia Financial has a 12-month low of $14.25 and a 12-month high of $17.10.

Columbia Financial (NASDAQ:CLBK) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.04. The company had revenue of $51.83 million for the quarter. Columbia Financial had a net margin of 19.93% and a return on equity of 5.62%.

About Columbia Financial

Columbia Financial, Inc operates as the bank holding company for Columbia Bank that provides financial services to businesses and consumers in the United States. The company offers non-interest bearing demand deposits, such as individual checking and commercial checking accounts; interest-bearing demand accounts comprising interest earning checking accounts and municipal accounts; and savings and club accounts, money market accounts, and certificates of deposit.

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