Northfield Bancorp (NFBK) Upgraded at Zacks Investment Research
According to Zacks, “NORTHFIELD Building Loan and Savings Association in the village of Mariners Harbor, Town of Northfield, County of Richmond, by a group of Staten Islanders for the purpose of rendering mutual aid to each other, and to those who shall hereafter be associated with us. “
Other equities research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Northfield Bancorp from a c+ rating to a b- rating in a research report on Thursday, May 9th. BidaskClub upgraded shares of Northfield Bancorp from a sell rating to a hold rating in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and a consensus target price of $18.00.
Northfield Bancorp (NASDAQ:NFBK) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $30.64 million during the quarter, compared to analysts’ expectations of $30.24 million. Northfield Bancorp had a net margin of 23.84% and a return on equity of 5.30%. As a group, equities research analysts forecast that Northfield Bancorp will post 0.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were given a dividend of $0.11 per share. This is a boost from Northfield Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, May 7th. This represents a $0.44 annualized dividend and a dividend yield of 2.93%. Northfield Bancorp’s payout ratio is currently 57.89%.
In other news, Director Gil Chapman sold 3,000 shares of Northfield Bancorp stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $14.80, for a total transaction of $44,400.00. Following the completion of the sale, the director now owns 54,397 shares in the company, valued at approximately $805,075.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kenneth J. Doherty sold 10,000 shares of Northfield Bancorp stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $14.56, for a total transaction of $145,600.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,980 shares of company stock valued at $280,238. 8.60% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in Northfield Bancorp by 0.7% during the 1st quarter. BlackRock Inc. now owns 6,904,134 shares of the bank’s stock worth $95,968,000 after acquiring an additional 49,565 shares during the last quarter. Vanguard Group Inc. boosted its stake in Northfield Bancorp by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,538,643 shares of the bank’s stock worth $72,254,000 after acquiring an additional 139,919 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Northfield Bancorp by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,796,228 shares of the bank’s stock worth $52,768,000 after acquiring an additional 67,797 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Northfield Bancorp by 4.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,202,818 shares of the bank’s stock worth $30,619,000 after acquiring an additional 99,250 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Northfield Bancorp by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 670,067 shares of the bank’s stock worth $10,668,000 after acquiring an additional 9,694 shares during the last quarter. Institutional investors own 57.62% of the company’s stock.
About Northfield Bancorp
Northfield Bancorp, Inc (Staten Island, NY) operates as the bank holding company for Northfield Bank that provides various banking products and services primarily to individuals and corporate customers. It accepts various deposits products, including transaction accounts comprising negotiable orders of withdrawal accounts and non-interest bearing checking accounts; savings accounts, such as money market, passbook, and statement savings; certificates of deposit consisting of individual retirement accounts; and brokered deposits.
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