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Why Columbia Financial Rallied on Tuesday

TheMotleyFool

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Why Columbia Financial Rallied on TuesdayPhoto, wide shot, wide-angle lens, Hedge fund, neutral atmosphere, photo by Charlie Waite: https://img.theapi.app/temp/95282efd-f725-49c0-be40-aa74627f7ccc.png

Shares of Columbia Financial (NASDAQ: CLBK) rallied 7.4% on Tuesday as of 12:46 p.m. ET.

The small-cap bank held its earnings call last night, handily beating targets. The bank, which makes mainly a variety of real estate loans for both consumers and commercial businesses, reported net interest rate margin increases and lower charge-offs.

In the quarter, Columbia Financial reported net interest income of $57.4 million, up 26.7% from the year-ago quarter, while earnings per share rose 150% to $0.15. Both figures beat expectations by a fair amount.

Source Fool.com

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