Columbia Financial (NASDAQ:CLBK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Columbia Financial (NASDAQ:CLBK) from a hold rating to a buy rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage currently has $14.00 target price on the stock.

According to Zacks, “Columbia Financial Inc. operates as an investment holding company. It offers consumer and commercial products which includes online and mobile banking, lending facilities, title, investment and wealth management services. Columbia Financial Inc.is headquartered in New Jersey, Unites States. “

Other analysts have also issued research reports about the company. Piper Sandler cut their price objective on Columbia Financial from $17.00 to $15.50 and set an overweight rating on the stock in a research report on Thursday. BidaskClub cut Columbia Financial from a sell rating to a strong sell rating in a research note on Thursday, June 4th.

Shares of NASDAQ:CLBK opened at $12.03 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $1.38 billion, a PE ratio of 26.73 and a beta of 0.40. The firm’s 50-day moving average is $13.27 and its two-hundred day moving average is $14.62. Columbia Financial has a 1 year low of $12.00 and a 1 year high of $17.34.

Columbia Financial (NASDAQ:CLBK) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, beating 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 firm had revenue of $62.88 million during the quarter, compared to analysts’ expectations of $60.10 million. Analysts expect that Columbia Financial will post 0.49 EPS for the current fiscal year.

In other news, Director Michael Jr. Massood acquired 3,170 shares of the company’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $13.81 per share, with a total value of $43,777.70. Following the transaction, the director now owns 1,600 shares in the company, valued at approximately $22,096. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in shares of Columbia Financial by 50.3% in the 4th quarter. Victory Capital Management Inc. now owns 31,034 shares of the company’s stock valued at $526,000 after buying an additional 10,389 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Columbia Financial by 149.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 237,593 shares of the company’s stock valued at $4,025,000 after acquiring an additional 142,475 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Columbia Financial by 23.1% during the fourth quarter. Bank of New York Mellon Corp now owns 259,201 shares of the company’s stock worth $4,391,000 after purchasing an additional 48,683 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Columbia Financial by 37.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 55,742 shares of the company’s stock worth $944,000 after purchasing an additional 15,220 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Columbia Financial by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 740,573 shares of the company’s stock valued at $12,545,000 after purchasing an additional 10,944 shares during the last quarter. 17.80% of the stock is owned by institutional investors and hedge funds.

Columbia Financial Company Profile

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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