Why Columbia Financial Rallied on Tuesday
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
