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

Northfield Bancorp, Inc. (NASDAQ:NFBK) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.24 and last traded at $14.1350, with a volume of 209571 shares. The stock had previously closed at $13.96.

Analyst Ratings Changes

NFBK has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Northfield Bancorp from $12.00 to $14.50 and gave the company a “hold” rating in a report on Friday, February 6th. Weiss Ratings raised Northfield Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 17th. Finally, New Street Research set a $14.50 target price on Northfield Bancorp in a research note on Friday, February 6th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.50.

Northfield Bancorp Stock Up 0.7%

The business has a 50-day moving average price of $13.66 and a 200 day moving average price of $12.51. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $586.94 million, a P/E ratio of 117.13 and a beta of 0.72.

Northfield Bancorp (NASDAQ:NFBK) last posted its quarterly earnings data on Tuesday, April 21st. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $40.38 million during the quarter, compared to analyst estimates 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $0.52 dividend on an annualized basis and a yield of 3.7%. Northfield Bancorp’s dividend payout ratio is presently 433.33%.

Insider Buying and Selling

In other news, EVP David Fasanella bought 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 completion of the transaction, the executive vice president directly owned 11,500 shares of the company’s stock, valued at approximately $150,305. The trade was a 187.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Stahlin bought 10,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 54,354 shares of the company’s stock, valued at $716,929.26. The trade was a 22.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 6.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Northfield Bancorp by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,012 shares of the bank’s stock valued at $251,000 after buying an additional 1,426 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Northfield Bancorp by 3.7% during the 1st quarter. Empowered Funds LLC now owns 133,823 shares of the bank’s stock valued at $1,460,000 after buying an additional 4,741 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Northfield Bancorp during the 2nd quarter valued at about $172,000. Prudential Financial Inc. purchased a new position in shares of Northfield Bancorp during the 2nd quarter valued at about $185,000. Finally, First Trust Advisors LP boosted its position in Northfield Bancorp by 6.5% in the 2nd quarter. First Trust Advisors LP now owns 30,623 shares of the bank’s stock worth $352,000 after purchasing an additional 1,880 shares in the last quarter. 65.51% of the stock is currently owned by hedge funds and other 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.