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

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s stock price 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 changing hands. The stock had previously closed at $13.77.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Weiss Ratings downgraded Northfield Bancorp from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, March 4th. Keefe, Bruyette & Woods lifted their price objective 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, New Street Research set a $14.50 price objective on Northfield Bancorp in a research report on Friday, February 6th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.33.

Northfield Bancorp Stock Performance

The stock has a 50-day simple moving average of $13.37 and a 200-day simple moving average of $12.01. 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 stock has a market cap of $582.27 million, a PE ratio of 1,395.50 and a beta of 0.75.

Northfield Bancorp (NASDAQ:NFBK) last posted its quarterly 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. Northfield Bancorp had a return on equity of 5.91% and a net margin of 0.30%.The firm had revenue of $78.01 million during the quarter, compared to the consensus estimate of $39.48 million. Equities analysts predict that Northfield Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Northfield Bancorp Dividend Announcement

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

Insider Transactions at Northfield Bancorp

In other news, EVP David Fasanella purchased 7,500 shares of the stock in a transaction 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 transaction, the executive vice president owned 11,500 shares in the company, valued at approximately $150,305. The trade was a 187.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Stahlin purchased 10,000 shares of the stock in a transaction on Tuesday, March 17th. The shares were purchased at an average cost of $13.19 per share, with a total value of $131,900.00. Following the transaction, the director owned 54,354 shares of the company’s stock, 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. 6.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NFBK. Signaturefd LLC lifted its stake in shares of Northfield Bancorp by 41.6% during the fourth quarter. Signaturefd LLC now owns 3,019 shares of the bank’s stock worth $35,000 after purchasing an additional 887 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Northfield Bancorp by 1,195.9% during the third quarter. Russell Investments Group Ltd. now owns 3,447 shares of the bank’s stock worth $41,000 after purchasing an additional 3,181 shares in the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Northfield Bancorp during the third quarter worth about $77,000. Cornerstone Planning Group LLC lifted its stake in shares of Northfield Bancorp by 30,922.6% during the fourth quarter. Cornerstone Planning Group LLC now owns 9,617 shares of the bank’s stock worth $114,000 after purchasing an additional 9,586 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Northfield Bancorp during the fourth quarter worth about $125,000. 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.