Columbia Financial (CLBK) Raised to Buy at Sandler O’Neill

Sandler O’Neill upgraded shares of Columbia Financial (NASDAQ:CLBK) from a hold rating to a buy rating in a research note released on Tuesday morning, Marketbeat reports.

CLBK opened at $15.90 on Tuesday. Columbia Financial has a fifty-two week low of $14.01 and a fifty-two week high of $17.73. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.99.

Columbia Financial (NASDAQ:CLBK) last posted its quarterly earnings results on Friday, July 27th. The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. The firm had revenue of $46.43 million for the quarter.

In related news, Director Henry Kuiken acquired 25,400 shares of the stock in a transaction dated Wednesday, August 29th. The shares were acquired at an average price of $16.91 per share, with a total value of $429,514.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John R. Salvetti acquired 2,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were bought at an average cost of $16.94 per share, for a total transaction of $33,880.00. The disclosure for this purchase can be found here. Insiders have bought a total of 30,400 shares of company stock valued at $513,224 over the last ninety days.

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Columbia Financial during the 2nd quarter valued at about $741,000. Raffles Associates LP acquired a new position in shares of Columbia Financial during the 2nd quarter valued at about $828,000. Stilwell Value LLC acquired a new position in shares of Columbia Financial during the 2nd quarter valued at about $910,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Columbia Financial during the 2nd quarter valued at about $4,077,000. Finally, Sei Investments Co. acquired a new position in shares of Columbia Financial during the 2nd quarter valued at about $331,000. 11.90% of the stock is currently owned by institutional investors and hedge funds.

Columbia Financial Company Profile

Columbia Financial, Inc operates as a bank holding company for Columbia Bank that provides banking products and services 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 checking accounts and municipal accounts; and savings accounts, money market accounts, and certificates of deposit.

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