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

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $14.76 and last traded at $14.74, with a volume of 443086 shares traded. The stock had previously closed at $14.65.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Northfield Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Northfield Bancorp has a consensus rating of “Hold” and an average price target of $14.50.

Northfield Bancorp Stock Up 0.7%

The stock has a market cap of $617.21 million, a P/E ratio of 123.17 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.24. The business has a 50-day simple moving average of $14.07 and a 200-day simple moving average of $13.04.

Northfield Bancorp (NASDAQ:NFBK) last announced its earnings results on Tuesday, April 21st. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm 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 6.75% and a net margin of 1.77%.

Northfield Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.52 dividend on an annualized basis and a yield of 3.5%. Northfield Bancorp’s dividend payout ratio is presently 433.33%.

Insider Activity at Northfield Bancorp

In other Northfield Bancorp news, EVP David Fasanella acquired 7,500 shares of Northfield Bancorp stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of $13.07 per share, with a total value of $98,025.00. Following the completion of the transaction, the executive vice president owned 11,500 shares of the company’s stock, valued at $150,305. The trade was a 187.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Stahlin acquired 10,000 shares of Northfield Bancorp stock in a transaction dated 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 completion of the transaction, the director directly owned 54,354 shares of the company’s stock, valued at $716,929.26. This trade represents a 22.55% increase in their position. The SEC filing for this purchase provides additional information. 5.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northfield Bancorp

Hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. boosted its position in shares of Northfield Bancorp by 156.8% in the third quarter. Hillsdale Investment Management Inc. now owns 532,920 shares of the bank’s stock valued at $6,288,000 after acquiring an additional 325,400 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of Northfield Bancorp in the third quarter valued at approximately $1,177,000. Savant Capital LLC boosted its position in shares of Northfield Bancorp by 29.5% in the third quarter. Savant Capital LLC now owns 18,684 shares of the bank’s stock valued at $220,000 after acquiring an additional 4,258 shares during the period. Cornerstone Investment Partners LLC bought a new stake in shares of Northfield Bancorp in the third quarter valued at approximately $167,000. Finally, M3F Inc. acquired a new position in shares of Northfield Bancorp in the first quarter valued at $10,516,000. 65.51% of the stock is owned by institutional investors.

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.