Columbia Financial (NASDAQ:CLBK) PT Lowered to $15.50

Columbia Financial (NASDAQ:CLBK) had its price target cut by Piper Sandler from $17.00 to $15.50 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 28.84% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Columbia Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 4th. Zacks Investment Research cut shares of Columbia Financial from a “buy” rating to a “hold” rating in a research report on Monday, July 27th.

NASDAQ CLBK opened at $12.03 on Thursday. Columbia Financial has a 12 month low of $12.00 and a 12 month high of $17.34. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 27.22 and a beta of 0.40. The company’s 50 day moving average is $13.27 and its two-hundred day moving average is $14.62. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.43.

Columbia Financial (NASDAQ:CLBK) last released its earnings results on Wednesday, July 29th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Columbia Financial had a net margin of 15.61% and a return on equity of 5.22%. The company had revenue of $62.88 million for the quarter, compared to analysts’ expectations of $60.10 million. Sell-side analysts forecast that Columbia Financial will post 0.49 EPS for the current year.

In related news, Director Michael Jr. Massood acquired 3,170 shares of Columbia Financial stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $13.81 per share, for a total transaction of $43,777.70. Following the completion of the transaction, the director now directly owns 1,600 shares in the company, valued at approximately $22,096. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of CLBK. Beese Fulmer Investment Management Inc. purchased a new position in shares of Columbia Financial in the second quarter valued at $72,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Columbia Financial by 35.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,005 shares of the company’s stock valued at $84,000 after purchasing an additional 1,584 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of Columbia Financial in the fourth quarter valued at $115,000. Moors & Cabot Inc. purchased a new position in shares of Columbia Financial in the first quarter valued at $144,000. Finally, AQR Capital Management LLC purchased a new position in shares of Columbia Financial in the first quarter valued at $147,000. 17.80% of the stock is owned by hedge funds and other institutional investors.

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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