Piper Jaffray Companies Reiterates “Hold” Rating for Northfield Bancorp, Inc. (NFBK)
Northfield Bancorp, Inc. (NASDAQ:NFBK)‘s stock had its “hold” rating restated by equities researchers at Piper Jaffray Companies in a report issued on Thursday. They currently have a $16.50 price target on the bank’s stock. Piper Jaffray Companies’ price target suggests a potential downside of 2.02% from the stock’s previous close.
Several other research firms have also recently commented on NFBK. BidaskClub cut shares of Northfield Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods set a $18.00 target price on shares of Northfield Bancorp and gave the company a “hold” rating in a research note on Saturday, May 20th.
Shares of Northfield Bancorp (NASDAQ NFBK) traded up 0.78% on Thursday, reaching $16.84. 50,710 shares of the company’s stock traded hands. Northfield Bancorp has a 52 week low of $14.88 and a 52 week high of $20.59. The firm has a market capitalization of $762.04 million, a price-to-earnings ratio of 23.07 and a beta of 0.33. The company has a 50 day moving average price of $17.05 and a 200 day moving average price of $17.68.
Northfield Bancorp (NASDAQ:NFBK) last released its earnings results on Wednesday, July 26th. The bank reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.03. The firm had revenue of $29.35 million for the quarter, compared to analysts’ expectations of $26.20 million. Northfield Bancorp had a net margin of 24.13% and a return on equity of 4.93%. During the same quarter last year, the company earned $0.15 EPS. On average, equities research analysts predict that Northfield Bancorp will post $0.74 earnings per share for the current fiscal year.
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In other Northfield Bancorp news, EVP William R. Jacobs sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $17.82, for a total transaction of $89,100.00. Following the transaction, the executive vice president now owns 48,959 shares of the company’s stock, valued at approximately $872,449.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John Wade Alexander sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $16.56, for a total transaction of $331,200.00. Following the transaction, the chief executive officer now directly owns 480,697 shares in the company, valued at approximately $7,960,342.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,986 shares of company stock worth $727,892. 10.50% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Northfield Bancorp by 56,692.4% in the first quarter. BlackRock Inc. now owns 5,494,092 shares of the bank’s stock valued at $99,003,000 after buying an additional 5,484,418 shares during the last quarter. Vanguard Group Inc. boosted its position in Northfield Bancorp by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,846,694 shares of the bank’s stock valued at $69,317,000 after buying an additional 167,713 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Northfield Bancorp by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,086,317 shares of the bank’s stock valued at $55,616,000 after buying an additional 175,468 shares during the last quarter. Renaissance Technologies LLC boosted its position in Northfield Bancorp by 4.2% in the first quarter. Renaissance Technologies LLC now owns 1,903,268 shares of the bank’s stock valued at $34,297,000 after buying an additional 76,200 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Northfield Bancorp by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 686,648 shares of the bank’s stock valued at $12,374,000 after buying an additional 19,636 shares during the last quarter. 53.28% of the stock is currently owned by hedge funds and other institutional investors.
About Northfield Bancorp
Northfield Bancorp, Inc is a holding company for Northfield Bank (the Bank). Northfield Bank’s principal business consists of originating commercial real estate loans and multifamily real estate loans, purchasing investment securities including mortgage-backed securities and corporate bonds, as well as depositing funds in other financial institutions.
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