Northfield Bancorp (NASDAQ:NFBK) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Northfield Bancorp, Inc. (NASDAQ:NFBK) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.33 and traded as high as $12.43. Northfield Bancorp shares last traded at $12.33, with a volume of 151,228 shares.

Analysts Set New Price Targets

Several brokerages have recently commented on NFBK. Keefe, Bruyette & Woods lowered their price objective on Northfield Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Northfield Bancorp in a report on Tuesday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.00.

Northfield Bancorp Stock Down 2.4%

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $502.85 million, a P/E ratio of 12.40 and a beta of 0.87. The company has a fifty day moving average price of $10.92 and a 200-day moving average price of $11.33.

Northfield Bancorp (NASDAQ:NFBK) last announced its quarterly earnings results on Thursday, October 23rd. The bank reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Northfield Bancorp had a return on equity of 5.20% and a net margin of 14.92%.The company had revenue of $39.24 million during the quarter, compared to analyst estimates of $39.10 million. As a group, research analysts forecast that Northfield Bancorp, Inc. will post 0.82 EPS for the current fiscal year.

Northfield Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 5th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.3%. Northfield Bancorp’s dividend payout ratio (DPR) is 53.61%.

Institutional Investors Weigh In On Northfield Bancorp

A number of hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new position in Northfield Bancorp during the second quarter worth $1,430,000. Trexquant Investment LP raised its stake in shares of Northfield Bancorp by 66.2% in the first quarter. Trexquant Investment LP now owns 150,521 shares of the bank’s stock valued at $1,642,000 after acquiring an additional 59,955 shares during the period. Nuveen LLC bought a new stake in shares of Northfield Bancorp in the 1st quarter worth about $1,225,000. Vanguard Group Inc. boosted its stake in shares of Northfield Bancorp by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 2,356,797 shares of the bank’s stock worth $25,713,000 after purchasing an additional 84,883 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Northfield Bancorp by 301.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 36,900 shares of the bank’s stock worth $424,000 after purchasing an additional 27,700 shares during the period. Hedge funds and other institutional investors own 65.51% of the company’s stock.

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.