Columbia Financial Announces Conversion Plan and Northfield Acquisition

Columbia Financial ( (CLBK) ) has provided an update.

On January 31, 2026, Columbia Financial, Inc. approved a plan to convert from a mutual holding company to a fully public stock holding company and simultaneously agreed to acquire Northfield Bancorp, Inc. in an approximately $597 million transaction. The second-step conversion will see Columbia Bank MHC’s majority stake sold to the public at $10 per share, existing minority Columbia shareholders exchanged into a new Maryland holding company, and MHC-owned shares cancelled, with depositors as of December 31, 2024 receiving first-priority subscription rights in the offering; completion of the conversion is subject to regulatory, depositor, and shareholder approvals. Immediately after the conversion, Northfield will merge into the new holding company, with Northfield shareholders able to elect stock or cash within set limits and valuation-based price tiers, creating a combined institution with about $18 billion in pro forma assets and positioning it as the third-largest regional bank headquartered in New Jersey. The deal, unanimously approved by both boards and targeted to close in early third quarter 2026 pending customary regulatory and shareholder approvals, is designed to deploy newly raised capital into an earnings-accretive acquisition—estimated to boost Columbia’s 2027 EPS by 50% at the midpoint valuation—while broadening the franchise’s New Jersey and New York footprint and integrating Northfield’s management and directors into Columbia’s leadership structure.

The most recent analyst rating on (CLBK) stock is a Hold with a $16.50 price target. To see the full list of analyst forecasts on Columbia Financial stock, see the CLBK Stock Forecast page.

Spark’s Take on CLBK Stock

According to Spark, TipRanks’ AI Analyst, CLBK is a Neutral.

Columbia Financial’s overall score is driven by strong financial performance and positive corporate events. However, technical indicators suggest overbought conditions, and the high P/E ratio indicates overvaluation, which tempers the overall score.

To see Spark’s full report on CLBK stock, click here.

More about Columbia Financial

Columbia Financial, Inc. is the mid-tier holding company for Columbia Bank, a federally chartered savings bank headquartered in Fair Lawn, New Jersey. Through 71 full-service branches, Columbia Bank provides traditional retail and commercial banking services to consumers and businesses across its regional market. Northfield Bancorp, Inc., founded in 1887, is the parent holding company of Northfield Bank, which operates 37 full-service branches across Staten Island and Brooklyn, New York, and several counties in New Jersey, focusing on community banking services.

Average Trading Volume: 114,741

Technical Sentiment Signal: Buy

Current Market Cap: $1.7B

Learn more about CLBK stock on TipRanks’ Stock Analysis page.