Northfield Bancorp, Inc. (NASDAQ:NFBK) Earns Hold Rating from Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their hold rating on shares of Northfield Bancorp, Inc. (NASDAQ:NFBK) in a report released on Thursday. Piper Jaffray Companies currently has a $16.50 price objective on the bank’s stock.
Other research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods set a $18.00 target price on shares of Northfield Bancorp and gave the company a hold rating in a research report on Saturday, May 20th. BidaskClub downgraded shares of Northfield Bancorp from a sell rating to a strong sell rating in a research report on Wednesday, July 12th.
Shares of Northfield Bancorp (NFBK) traded up 0.78% during midday trading on Thursday, hitting $16.84. 50,710 shares of the company were exchanged. The firm’s 50 day moving average price is $17.05 and its 200 day moving average price is $17.68. The firm has a market capitalization of $762.04 million, a price-to-earnings ratio of 23.07 and a beta of 0.33. Northfield Bancorp has a one year low of $14.88 and a one year high of $20.59.
Northfield Bancorp (NASDAQ:NFBK) last released its earnings results on Wednesday, July 26th. The bank reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.03. Northfield Bancorp had a net margin of 24.13% and a return on equity of 4.93%. The company had revenue of $29.35 million for the quarter, compared to the consensus estimate of $26.20 million. During the same quarter in the previous year, the company earned $0.15 EPS. Analysts forecast that Northfield Bancorp will post $0.74 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.90%. Northfield Bancorp’s payout ratio is presently 43.84%.
In other Northfield Bancorp news, Director Patrick E. Scura, Jr. sold 2,503 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $16.59, for a total transaction of $41,524.77. Following the transaction, the director now owns 66,043 shares in the company, valued at $1,095,653.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William R. Jacobs sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $17.82, for a total transaction of $89,100.00. Following the transaction, the executive vice president now owns 48,959 shares in the company, valued at approximately $872,449.38. The disclosure for this sale can be found here. Insiders have sold a total of 42,986 shares of company stock worth $727,892 in the last quarter. 10.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its position in Northfield Bancorp by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the bank’s stock valued at $317,000 after buying an additional 100 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Northfield Bancorp by 1.5% in the first quarter. BNP Paribas Arbitrage SA now owns 9,918 shares of the bank’s stock valued at $179,000 after buying an additional 142 shares during the last quarter. Arizona State Retirement System increased its position in Northfield Bancorp by 0.9% in the second quarter. Arizona State Retirement System now owns 23,715 shares of the bank’s stock valued at $407,000 after buying an additional 200 shares during the last quarter. Prudential Financial Inc. increased its position in Northfield Bancorp by 0.4% in the first quarter. Prudential Financial Inc. now owns 83,298 shares of the bank’s stock valued at $1,501,000 after buying an additional 300 shares during the last quarter. Finally, Sei Investments Co. increased its position in Northfield Bancorp by 6.0% in the first quarter. Sei Investments Co. now owns 8,144 shares of the bank’s stock valued at $147,000 after buying an additional 462 shares during the last quarter. Hedge funds and other institutional investors own 53.28% of the company’s stock.
Northfield Bancorp Company Profile
Northfield Bancorp, Inc is a holding company for Northfield Bank (the Bank). Northfield Bank’s principal business consists of originating commercial real estate loans and multifamily real estate loans, purchasing investment securities including mortgage-backed securities and corporate bonds, as well as depositing funds in other financial institutions.
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