Northfield Bancorp (NASDAQ:NFBK) Sets New 52-Week High – Should You Buy?

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $14.24 and last traded at $14.1350, with a volume of 209571 shares traded. The stock had previously closed at $13.96.

Analyst Upgrades and Downgrades

NFBK has been the topic of several recent analyst reports. Weiss Ratings raised shares of Northfield Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods raised their price objective on Northfield Bancorp from $12.00 to $14.50 and gave the company a “hold” rating in a report on Friday, February 6th. Finally, New Street Research set a $14.50 price target on shares of Northfield Bancorp in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.50.

Northfield Bancorp Price Performance

The firm has a market cap of $586.94 million, a PE ratio of 117.13 and a beta of 0.72. The stock’s fifty day moving average price is $13.66 and its 200-day moving average price is $12.51. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.98 and a quick ratio of 0.98.

Northfield Bancorp (NASDAQ:NFBK) last released its earnings results on Tuesday, April 21st. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $40.38 million for the quarter, compared to analyst estimates of $40.60 million. Northfield Bancorp had a net margin of 1.77% and a return on equity of 6.75%.

Northfield Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, May 6th. Northfield Bancorp’s payout ratio is 433.33%.

Insider Activity

In related news, EVP David Fasanella acquired 7,500 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was purchased at an average price of $13.07 per share, with a total value of $98,025.00. Following the transaction, the executive vice president owned 11,500 shares of the company’s stock, valued at approximately $150,305. This trade represents a 187.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Stahlin acquired 10,000 shares of the stock in a transaction dated Tuesday, March 17th. The stock was acquired at an average cost of $13.19 per share, with a total value of $131,900.00. Following the purchase, the director owned 54,354 shares of the company’s stock, valued at approximately $716,929.26. This trade represents a 22.55% increase in their position. The SEC filing for this purchase provides additional information. 6.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Northfield Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Hillsdale Investment Management Inc. grew its stake in shares of Northfield Bancorp by 156.8% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 532,920 shares of the bank’s stock valued at $6,288,000 after purchasing an additional 325,400 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Northfield Bancorp in the 3rd quarter valued at approximately $1,177,000. Rafferty Asset Management LLC increased its stake in shares of Northfield Bancorp by 40.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 34,629 shares of the bank’s stock worth $409,000 after purchasing an additional 9,922 shares in the last quarter. Semanteon Capital Management LP purchased a new stake in shares of Northfield Bancorp in the third quarter valued at $262,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Northfield Bancorp by 16.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 191,800 shares of the bank’s stock valued at $2,263,000 after acquiring an additional 27,737 shares in the last quarter. 65.51% of the stock is owned by hedge funds and other institutional investors.

About Northfield Bancorp

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.