Northfield Bancorp (NASDAQ:NFBK) Share Price Passes Above 200 Day Moving Average – What’s Next?

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.84 and traded as high as $13.25. Northfield Bancorp shares last traded at $13.06, with a volume of 372,625 shares changing hands.

Wall Street Analysts Forecast Growth

NFBK has been the subject of a number of research reports. New Street Research set a $14.50 target price on shares of Northfield Bancorp in a research note on Friday, February 6th. Keefe, Bruyette & Woods upped their target price on Northfield Bancorp from $12.00 to $14.50 and gave the company a “hold” rating in a research report on Friday, February 6th. Finally, Weiss Ratings downgraded shares of Northfield Bancorp from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.33.

Northfield Bancorp Trading Down 0.8%

The firm has a 50-day moving average of $12.98 and a two-hundred day moving average of $11.86. The firm has a market capitalization of $552.07 million, a P/E ratio of 1,322.00 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.39.

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

Northfield Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Thursday, February 12th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $0.52 annualized dividend and a dividend yield of 3.9%. Northfield Bancorp’s payout ratio is 5,200.00%.

Insider Buying and Selling

In related news, Director Paul Stahlin acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average price of $13.19 per share, with a total value of $131,900.00. Following the purchase, the director directly owned 54,354 shares in the company, valued at approximately $716,929.26. This trade represents a 22.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Fasanella bought 7,500 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was bought at an average price of $13.07 per share, for a total transaction of $98,025.00. Following the transaction, the executive vice president directly owned 11,500 shares of the company’s stock, valued at approximately $150,305. This represents a 187.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 5.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northfield Bancorp

Several hedge funds have recently modified their holdings of the company. Hillsdale Investment Management Inc. increased its holdings in Northfield Bancorp by 156.8% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 532,920 shares of the bank’s stock worth $6,288,000 after purchasing an additional 325,400 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 purchasing an additional 290,030 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Northfield Bancorp by 181.9% during the third quarter. Bank of America Corp DE now owns 296,137 shares of the bank’s stock worth $3,494,000 after purchasing an additional 191,079 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Northfield Bancorp during the third quarter worth about $1,941,000. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Northfield Bancorp by 99.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 218,707 shares of the bank’s stock valued at $2,500,000 after buying an additional 109,012 shares during the period. Institutional investors and hedge funds 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.