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CLBK — Columbia Financial News Story

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Brief: Columbia Financial Q2 EPS USD 0.12

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

MetricBeat/MissActualConsensus 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.)

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