Columbia Financial Inc (NASDAQ:CLBK) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 1,168,100 shares, an increase of 91.3% from the May 30th total of 610,700 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average daily volume of 186,200 shares, the days-to-cover ratio is currently 6.3 days.
Separately, Compass Point cut Columbia Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $15.50 in a report on Wednesday, June 12th.
CLBK traded up $0.13 during trading hours on Thursday, reaching $15.34. 157,900 shares of the company’s stock traded hands, compared to its average volume of 138,266. The company’s 50-day moving average price is $15.07. Columbia Financial has a 52-week low of $14.01 and a 52-week high of $17.00. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 31.90 and a beta of 0.45.
Columbia Financial (NASDAQ:CLBK) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. Columbia Financial had a return on equity of 5.49% and a net margin of 9.93%. The company had revenue of $48.42 million during the quarter.
In related news, CEO Thomas J. Kemly bought 2,500 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was purchased at an average price of $14.59 per share, for a total transaction of $36,475.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Henry Kuiken bought 6,742 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was bought at an average price of $14.78 per share, with a total value of $99,646.76. The disclosure for this purchase can be found here. In the last quarter, insiders bought 10,242 shares of company stock valued at $150,772. Company insiders own 0.74% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of CLBK. Great West Life Assurance Co. Can purchased a new position in Columbia Financial during the 4th quarter valued at $53,000. Acadian Asset Management LLC purchased a new position in Columbia Financial during the 4th quarter valued at $94,000. SG Americas Securities LLC purchased a new position in Columbia Financial during the 1st quarter valued at $130,000. Amundi Pioneer Asset Management Inc. purchased a new position in Columbia Financial during the 4th quarter valued at $177,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Columbia Financial by 287.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,278 shares of the company’s stock valued at $177,000 after acquiring an additional 8,370 shares during the period. Institutional investors own 12.92% of the company’s stock.
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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