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

Northfield Bancorp, Inc. (NASDAQ:NFBK) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $14.19 and last traded at $14.1850, with a volume of 99817 shares. The stock had previously closed at $13.91.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NFBK. Weiss Ratings raised Northfield Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods boosted their target price on Northfield Bancorp from $12.00 to $14.50 and gave the stock a “hold” rating in a research note on Friday, February 6th. Finally, New Street Research set a $14.50 target price on Northfield Bancorp in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.50.

Northfield Bancorp Trading Up 1.8%

The company has a 50-day moving average price of $13.55 and a 200-day moving average price of $12.29. The firm has a market capitalization of $591.59 million, a price-to-earnings ratio of 118.04 and a beta of 0.72. 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 (NASDAQ:NFBK) last released its quarterly earnings data on Tuesday, April 21st. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $40.38 million during the quarter, compared to analysts’ expectations of $40.60 million. Northfield Bancorp had a return on equity of 6.72% and a net margin of 1.77%.

Northfield Bancorp Announces Dividend

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

Insider Activity

In other Northfield Bancorp news, EVP David Fasanella acquired 7,500 shares of the stock in a transaction dated Thursday, March 19th. The stock was acquired at an average cost of $13.07 per share, with a total value of $98,025.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Stahlin acquired 10,000 shares of the stock in a transaction dated Tuesday, March 17th. The shares were acquired at an average cost of $13.19 per share, with a total value of $131,900.00. Following the completion of the transaction, the director owned 54,354 shares in the company, 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. Corporate insiders own 5.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC lifted its holdings in shares of Northfield Bancorp by 41.6% in the 4th 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 last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Northfield Bancorp by 1,195.9% in the 3rd 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 last quarter. Quadrant Capital Group LLC purchased a new stake in shares of Northfield Bancorp in the 3rd quarter valued at about $77,000. Cornerstone Planning Group LLC lifted its holdings in shares of Northfield Bancorp by 30,922.6% in the 4th 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 last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Northfield Bancorp in the 4th quarter valued at about $125,000. 65.51% of the stock is owned by institutional investors and hedge funds.

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.