Columbia Financial (NASDAQ:CLBK) Stock Rating Lowered by Compass Point

Compass Point cut shares of Columbia Financial (NASDAQ:CLBK) from a buy rating to a neutral rating in a research report report published on Wednesday morning, BenzingaRatingsTable reports. They currently have $15.50 price objective on the stock, down from their previous price objective of $18.00.

CLBK stock opened at $14.60 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.10. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 31.10 and a beta of 0.53. Columbia Financial has a twelve month low of $14.01 and a twelve month high of $17.45.

Columbia Financial (NASDAQ:CLBK) last posted its earnings results on Thursday, April 25th. The company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. The business had revenue of $48.42 million during the quarter. Columbia Financial had a return on equity of 5.49% and a net margin of 9.93%.

A number of hedge funds have recently bought and sold shares of the business. Kore Private Wealth LLC purchased a new position in Columbia Financial during the 1st quarter valued at about $138,000. Geode Capital Management LLC grew its holdings in Columbia Financial by 7.3% during the 1st quarter. Geode Capital Management LLC now owns 674,032 shares of the company’s stock valued at $10,562,000 after buying an additional 45,585 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Columbia Financial by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 288,297 shares of the company’s stock worth $4,518,000 after purchasing an additional 12,193 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Columbia Financial by 3.3% during the first quarter. The Manufacturers Life Insurance Company now owns 31,285 shares of the company’s stock worth $490,000 after purchasing an additional 1,009 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of Columbia Financial by 3.5% during the first quarter. Neuberger Berman Group LLC now owns 58,784 shares of the company’s stock worth $921,000 after purchasing an additional 2,000 shares in the last quarter. 12.92% 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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