Northfield Bancorp (NASDAQ:NFBK) Hits New 1-Year High – What’s Next?

Northfield Bancorp, Inc. (NASDAQ:NFBK) shares hit a new 52-week high during trading on Friday . The stock traded as high as $14.36 and last traded at $14.3350, with a volume of 116798 shares traded. The stock had previously closed at $14.26.

Analyst Ratings Changes

A number of analysts have recently issued reports on NFBK shares. Keefe, Bruyette & Woods increased their price target on shares of Northfield Bancorp from $12.00 to $14.50 and gave the stock a “hold” rating in a research report on Friday, February 6th. New Street Research set a $14.50 price target on shares of Northfield Bancorp in a research report on Friday, February 6th. Finally, Weiss Ratings raised shares of Northfield Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.50.

Northfield Bancorp Stock Up 0.5%

The business’s 50-day moving average price is $13.93 and its 200-day moving average price is $12.87. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $598.27 million, a PE ratio of 119.38 and a beta of 0.72.

Northfield Bancorp (NASDAQ:NFBK) last issued its quarterly earnings data on Tuesday, April 21st. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, May 6th. Northfield Bancorp’s dividend payout ratio (DPR) is presently 433.33%.

Insider Activity at Northfield Bancorp

In other Northfield Bancorp news, EVP David Fasanella acquired 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average price of $13.07 per share, with a total value of $98,025.00. Following the completion of the transaction, the executive vice president owned 11,500 shares in the company, valued at $150,305. The trade was a 187.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Stahlin acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were acquired at an average cost of $13.19 per share, for a total transaction of $131,900.00. Following the transaction, the director owned 54,354 shares of the company’s stock, valued at approximately $716,929.26. This represents a 22.55% increase in their position. The disclosure for this purchase is available in the SEC filing. 5.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northfield Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Northfield Bancorp by 133.1% during the first quarter. Royal Bank of Canada now owns 2,280 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,302 shares in the last quarter. Signaturefd LLC raised its position in shares of Northfield Bancorp by 41.6% in the fourth quarter. Signaturefd LLC now owns 3,019 shares of the bank’s stock valued at $35,000 after purchasing an additional 887 shares during the period. Russell Investments Group Ltd. raised its position in shares of Northfield Bancorp by 1,195.9% in the third quarter. Russell Investments Group Ltd. now owns 3,447 shares of the bank’s stock valued at $41,000 after purchasing an additional 3,181 shares during the period. Quadrant Capital Group LLC bought a new position in shares of Northfield Bancorp in the third quarter valued at approximately $77,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Northfield Bancorp by 30,922.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 9,617 shares of the bank’s stock valued at $114,000 after purchasing an additional 9,586 shares during the period. Institutional investors own 65.51% of the company’s stock.

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.