Northfield Bancorp (NASDAQ:NFBK) Sets New 52-Week High – Time to Buy?

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s stock price hit a new 52-week high on Friday . The company traded as high as $14.36 and last traded at $14.3350, with a volume of 116798 shares. The stock had previously closed at $14.26.

Analyst Ratings Changes

A number of analysts have weighed in on NFBK shares. Keefe, Bruyette & Woods increased their target price on shares of Northfield Bancorp from $12.00 to $14.50 and gave the stock a “hold” rating in a report on Friday, February 6th. Weiss Ratings raised shares of Northfield Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, New Street Research set a $14.50 target price on shares of Northfield Bancorp in a report on Friday, February 6th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.50.

Northfield Bancorp Stock Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s fifty day moving average is $13.93 and its two-hundred day moving average is $12.87. The firm has a market cap of $598.27 million, a price-to-earnings ratio of 119.38 and a beta of 0.72.

Northfield Bancorp (NASDAQ:NFBK) last released its quarterly earnings data on Tuesday, April 21st. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $40.38 million for the quarter, compared to analysts’ expectations of $40.60 million. Northfield Bancorp had a net margin of 1.77% and a return on equity of 6.75%.

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 paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.52 annualized dividend and a yield of 3.6%. Northfield Bancorp’s dividend payout ratio (DPR) is presently 433.33%.

Insider Activity

In other Northfield Bancorp news, Director Paul Stahlin acquired 10,000 shares of Northfield Bancorp stock in a transaction dated Tuesday, March 17th. The stock was bought at an average price of $13.19 per share, for a total transaction of $131,900.00. Following the transaction, the director owned 54,354 shares in the company, valued at approximately $716,929.26. This trade represents a 22.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Fasanella acquired 7,500 shares of Northfield Bancorp stock in a transaction dated Thursday, March 19th. The shares were acquired at an average price of $13.07 per share, with a total value of $98,025.00. Following the transaction, the executive vice president owned 11,500 shares in the company, valued at approximately $150,305. This represents a 187.50% increase in their position. The disclosure for this purchase is available in the SEC filing. 5.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NFBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Northfield Bancorp by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,012 shares of the bank’s stock worth $251,000 after buying an additional 1,426 shares during the period. Empowered Funds LLC boosted its holdings in shares of Northfield Bancorp by 3.7% in the first quarter. Empowered Funds LLC now owns 133,823 shares of the bank’s stock worth $1,460,000 after buying an additional 4,741 shares during the period. Envestnet Asset Management Inc. acquired a new position in shares of Northfield Bancorp in the second quarter worth about $172,000. Prudential Financial Inc. acquired a new position in shares of Northfield Bancorp in the second quarter worth about $185,000. Finally, First Trust Advisors LP boosted its holdings in shares of Northfield Bancorp by 6.5% in the second quarter. First Trust Advisors LP now owns 30,623 shares of the bank’s stock worth $352,000 after buying an additional 1,880 shares during the period. 65.51% of the stock is currently owned by institutional investors and hedge funds.

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.