Northfield Bancorp (NASDAQ:NFBK) Hits New 1-Year High – Here’s Why

Northfield Bancorp, Inc. (NASDAQ:NFBK) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $14.36 and last traded at $14.2660, with a volume of 10203 shares traded. The stock had previously closed at $14.29.

Wall Street Analyst Weigh In

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

Northfield Bancorp Stock Up 0.3%

The company has a market capitalization of $595.50 million, a P/E ratio of 118.83 and a beta of 0.72. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50 day moving average price of $13.84 and a 200 day moving average price of $12.74.

Northfield Bancorp (NASDAQ:NFBK) last released its earnings results on Tuesday, April 21st. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $40.38 million for the quarter, compared to analysts’ expectations of $40.60 million. Northfield Bancorp had a return on equity of 6.75% and a net margin of 1.77%.

Northfield Bancorp Announces Dividend

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

Insider Activity

In other news, EVP David Fasanella acquired 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average price of $13.07 per share, with a total value of $98,025.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul Stahlin acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was purchased at an average price of $13.19 per share, for a total transaction of $131,900.00. Following the completion of the purchase, the director directly owned 54,354 shares in the company, valued at $716,929.26. This trade represents a 22.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 5.95% of the company’s stock.

Institutional Investors Weigh In On Northfield Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Northfield Bancorp by 133.1% in the 1st 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 during the period. Signaturefd LLC raised its stake in 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 acquiring an additional 887 shares during the period. Russell Investments Group Ltd. raised its stake in 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 acquiring an additional 3,181 shares during the period. Quadrant Capital Group LLC bought a new stake in Northfield Bancorp in the 3rd quarter valued at about $77,000. Finally, Cornerstone Planning Group LLC raised its stake in 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 acquiring an additional 9,586 shares during the period. 65.51% of the stock is currently owned by institutional investors.

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.