Northfield Bancorp (NASDAQ:NFBK) Sets New 12-Month High – Here’s What Happened

Northfield Bancorp, Inc. (NASDAQ:NFBK) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $14.05 and last traded at $13.93, with a volume of 95906 shares traded. The stock had previously closed at $13.77.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Keefe, Bruyette & Woods boosted their price objective on Northfield Bancorp from $12.00 to $14.50 and gave the stock a “hold” rating in a research note on Friday, February 6th. New Street Research set a $14.50 price objective on Northfield Bancorp in a research note on Friday, February 6th. Finally, Weiss Ratings cut Northfield Bancorp from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.33.

Northfield Bancorp Price Performance

The stock has a market cap of $582.27 million, a PE ratio of 1,395.50 and a beta of 0.75. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.99 and a quick ratio of 0.99. The business has a fifty day moving average of $13.37 and a 200 day moving average of $12.01.

Northfield Bancorp (NASDAQ:NFBK) last issued its quarterly earnings results on Tuesday, February 3rd. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The firm had revenue of $78.01 million during the quarter, compared to the consensus estimate of $39.48 million. Northfield Bancorp had a return on equity of 5.91% and a net margin of 0.30%. Sell-side analysts anticipate that Northfield Bancorp, Inc. will post 0.82 earnings per share for the current year.

Northfield Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Thursday, February 12th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $0.52 dividend on an annualized basis and a yield of 3.7%. Northfield Bancorp’s dividend payout ratio is currently 5,200.00%.

Insider Transactions at Northfield Bancorp

In other Northfield Bancorp news, EVP David Fasanella purchased 7,500 shares of Northfield Bancorp 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 completion of the acquisition, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Stahlin purchased 10,000 shares of Northfield Bancorp stock in a transaction that occurred on 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 acquisition, the director directly owned 54,354 shares of the company’s stock, valued at $716,929.26. The trade was a 22.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 6.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NFBK. Assenagon Asset Management S.A. acquired a new stake in Northfield Bancorp during the third quarter valued at approximately $1,941,000. Hillsdale Investment Management Inc. raised its stake in Northfield Bancorp by 156.8% during the third quarter. Hillsdale Investment Management Inc. now owns 532,920 shares of the bank’s stock valued at $6,288,000 after buying an additional 325,400 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in Northfield Bancorp during the third quarter valued at approximately $1,177,000. Arrowstreet Capital Limited Partnership raised its stake in Northfield Bancorp by 94.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 597,877 shares of the bank’s stock valued at $6,864,000 after buying an additional 290,030 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in Northfield Bancorp during the third quarter valued at approximately $262,000. Hedge funds and other institutional investors own 65.51% of the company’s stock.

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.