Acadian Asset Management LLC grew its stake in Columbia Financial Inc (NASDAQ:CLBK) by 119.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,636 shares of the company’s stock after purchasing an additional 100,327 shares during the period. Acadian Asset Management LLC owned about 0.16% of Columbia Financial worth $2,789,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Virginia Retirement Systems ET AL boosted its position in Columbia Financial by 48.6% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 41,000 shares of the company’s stock worth $619,000 after buying an additional 13,400 shares during the period. Raymond James Trust N.A. acquired a new stake in Columbia Financial during the 2nd quarter worth approximately $221,000. Raymond James & Associates boosted its position in Columbia Financial by 7.7% during the 1st quarter. Raymond James & Associates now owns 121,749 shares of the company’s stock worth $1,908,000 after buying an additional 8,700 shares during the period. Seidman Lawrence B boosted its position in Columbia Financial by 10.7% during the 1st quarter. Seidman Lawrence B now owns 542,700 shares of the company’s stock worth $8,504,000 after buying an additional 52,500 shares during the period. Finally, Millennium Management LLC boosted its position in Columbia Financial by 13.9% during the 4th quarter. Millennium Management LLC now owns 16,600 shares of the company’s stock worth $254,000 after buying an additional 2,023 shares during the period. Institutional investors own 14.04% of the company’s stock.
Separately, Compass Point downgraded shares of Columbia Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $15.50 in a research report on Wednesday, June 12th.
In other news, Director Henry Kuiken purchased 6,742 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average price of $14.78 per share, for a total transaction of $99,646.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Kemly purchased 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 disclosure for this purchase can be found here. Insiders bought a total of 10,242 shares of company stock worth $150,772 in the last 90 days. Corporate insiders own 0.74% of the company’s stock.
NASDAQ:CLBK opened at $15.16 on Tuesday. The firm’s 50 day simple moving average is $15.31 and its 200 day simple moving average is $15.45. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.07 and a quick ratio of 1.07. Columbia Financial Inc has a one year low of $14.01 and a one year high of $17.00. The company has a market cap of $1.75 billion, a PE ratio of 31.98 and a beta of 0.45.
Columbia Financial (NASDAQ:CLBK) last posted its earnings results on Wednesday, July 24th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $47.62 million for the quarter. Columbia Financial had a return on equity of 5.31% and a net margin of 19.53%.
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.
Further Reading: Balanced Fund
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