Columbia Financial Inc (NASDAQ:CLBK) Sees Significant Drop in Short Interest
Columbia Financial Inc (NASDAQ:CLBK) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,265,300 shares, a decline of 15.9% from the July 31st total of 1,504,700 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily volume of 224,000 shares, the days-to-cover ratio is presently 5.6 days.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in Columbia Financial by 97,041.9% in the 2nd quarter. Royal Bank of Canada now owns 301,140 shares of the company’s stock valued at $4,548,000 after purchasing an additional 300,830 shares during the last quarter. Raffles Associates LP raised its position in Columbia Financial by 117.8% in the 2nd quarter. Raffles Associates LP now owns 108,900 shares of the company’s stock valued at $1,644,000 after purchasing an additional 58,900 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Columbia Financial in the 2nd quarter valued at $3,188,000. Price T Rowe Associates Inc. MD bought a new position in Columbia Financial in the 2nd quarter valued at $6,392,000. Finally, UBS Asset Management Americas Inc. raised its position in Columbia Financial by 97.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 29,400 shares of the company’s stock valued at $444,000 after purchasing an additional 14,500 shares during the last quarter. Hedge funds and other institutional investors own 15.16% of the company’s stock.
Separately, Compass Point downgraded Columbia Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $15.50 in a research report on Wednesday, June 12th.
Columbia Financial (NASDAQ:CLBK) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). Columbia Financial had a net margin of 19.53% and a return on equity of 5.31%. The business had revenue of $47.62 million during the quarter.
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.
Featured Article: Does the Dogs of the Dow strategy work?
Receive News & Ratings for Columbia Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Financial and related companies with MarketBeat.com's FREE daily email newsletter.