Overview
Columbia Financial Q2 net income rises to $12.3 mln, driven by higher net interest income
Company's net interest margin improves in the qtr
Columbia Financial reports solid loan growth, including $130.9 mln in equipment finance loans
Result Drivers
NET INTEREST INCOME - Increase driven by higher interest income and lower interest expenses, attributed to strategic balance sheet repositioning
LOAN GROWTH - Solid loan growth, including $130.9 mln in commercial equipment finance loans, contributed to financial performance
NON-INTEREST INCOME - Rise due to increased fees and gains on securities transactions
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$0.12
Q2 Net Income
$12.30 mln
Q2 Net Interest Income
$53.70 mln
Q2 Basic EPS
$0.12
Q2 Pretax Profit
$16.50 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Columbia Financial Inc is $17.00, about 17.5% above its July 29 closing price of $14.02
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 33 three months ago
Press Release: ID:nGNX3hq7YS
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)