Columbia Financial announces new stock repurchase program

FAIR LAWN, N.J. - Columbia Financial, Inc. (NASDAQ:CLBK), a regional bank with a market capitalization of $1.58 billion, announced Monday that its Board of Directors has authorized a new stock repurchase program to acquire up to 1.8 million shares of the company’s common stock, representing approximately 1.7% of currently outstanding shares. According to InvestingPro analysis, the stock currently trades above its Fair Value, with analyst price targets ranging from $15.50 to $18.00.

The program received non-objection from the Federal Reserve Bank of Philadelphia and will remain in effect for a one-year period. Under the program, shares may be repurchased through open market or private transactions, privately negotiated transactions, or pursuant to any trading plan adopted under Rule 10b5-1 of the Securities and Exchange Commission.

The timing and number of shares repurchased will depend on various factors including price, corporate and regulatory requirements, market conditions, and other liquidity priorities, according to the company’s press release statement.

Columbia Financial noted that the repurchase program does not obligate the company to purchase any specific number of shares and may be suspended or discontinued at any time.

Columbia Financial is the holding company for Columbia Bank, a federally chartered savings bank headquartered in Fair Lawn, New Jersey. The bank operates 69 full-service banking offices providing financial services to consumers and businesses in its market area. With annual revenue of $187.26 million, InvestingPro data shows the company maintains a high P/E ratio of 249, though analysts expect net income growth in the coming year. Get access to 6 more exclusive InvestingPro Tips to better understand CLBK’s financial outlook.

The stock repurchase announcement comes following the company’s December 2024 balance sheet repositioning transaction, though specific details about that transaction were not provided in the announcement. Investors can track the company’s next earnings report, scheduled for October 22, 2025, for more insights into its financial performance and strategy implementation.

In other recent news, Columbia Financial announced the departure of its Chief Operating Officer, Matthew Smith. Smith, who also served as Senior Executive Vice President, will officially leave his position on October 5, 2025. The company stated that the decision for Smith’s departure was mutually agreed upon, as noted in a filing with the Securities and Exchange Commission. Columbia Financial did not disclose further details about the reasons behind Smith’s departure or any immediate plans for his replacement. This development marks a significant change in the company’s executive leadership. Investors may be keen to see how Columbia Financial navigates this transition period.

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