Northfield Bancorp (NASDAQ:NFBK) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Northfield Bancorp (NASDAQ:NFBK) announced its earnings results on Monday. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02, Zacks reports. Northfield Bancorp had a net margin of 0.30% and a return on equity of 5.91%.

Northfield Bancorp Stock Down 0.6%

Northfield Bancorp stock traded down $0.08 during mid-day trading on Monday, reaching $13.85. The company’s stock had a trading volume of 122,472 shares, compared to its average volume of 314,645. The company has a market capitalization of $578.38 million, a price-to-earnings ratio of 1,385.00 and a beta of 0.75. Northfield Bancorp has a 12 month low of $9.46 and a 12 month high of $14.11. The business’s 50 day simple moving average is $13.51 and its 200 day simple moving average is $12.13. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.99 and a current ratio of 0.99.

Northfield Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Thursday, February 12th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, February 12th. This represents a $0.52 annualized dividend and a yield of 3.8%. Northfield Bancorp’s dividend payout ratio is presently 5,200.00%.

Insider Activity

In other Northfield Bancorp news, Director Paul Stahlin purchased 10,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were purchased at an average cost of $13.19 per share, with a total value of $131,900.00. Following the transaction, the director directly owned 54,354 shares of the company’s stock, valued at $716,929.26. This represents a 22.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Fasanella acquired 7,500 shares of Northfield Bancorp stock in a transaction dated Thursday, March 19th. The shares were acquired at an average price of $13.07 per share, with a total value of $98,025.00. Following the completion of the purchase, the executive vice president owned 11,500 shares in the company, valued at approximately $150,305. The trade was a 187.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 6.48% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its position in shares of Northfield Bancorp by 17.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 699,647 shares of the bank’s stock worth $8,256,000 after purchasing an additional 101,770 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Northfield Bancorp by 3.4% in the 4th quarter. AQR Capital Management LLC now owns 676,114 shares of the bank’s stock valued at $7,728,000 after buying an additional 22,408 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Northfield Bancorp by 19.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 326,288 shares of the bank’s stock valued at $3,729,000 after buying an additional 52,638 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Northfield Bancorp by 181.9% in the third quarter. Bank of America Corp DE now owns 296,137 shares of the bank’s stock valued at $3,494,000 after buying an additional 191,079 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in shares of Northfield Bancorp by 1.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 271,587 shares of the bank’s stock valued at $3,104,000 after buying an additional 3,516 shares in the last quarter. 65.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NFBK shares. New Street Research set a $14.50 price target on Northfield Bancorp in a research note on Friday, February 6th. Keefe, Bruyette & Woods upped their price objective on Northfield Bancorp from $12.00 to $14.50 and gave the stock a “hold” rating in a research report on Friday, February 6th. Finally, Weiss Ratings upgraded Northfield Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.33.

Northfield Bancorp Company Profile

Northfield Bancorp is the bank holding company for Northfield Bank, a New Jersey‐based community bank offering a full range of financial products and services. Headquartered in New Jersey, the company serves individuals, families and small to mid‐sized businesses across Northern and Central New Jersey. Northfield Bancorp focuses on building lasting customer relationships through a combination of personalized service and technology‐driven solutions.

Through its subsidiary, Northfield Bank provides personal banking services such as checking and savings accounts, consumer loans, mortgage products and home equity lines of credit.