Northfield Bancorp (NASDAQ:NFBK) Hits New 1-Year High – What’s Next?

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s share price reached a new 52-week high during trading on Tuesday . The stock 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.

Wall Street Analysts Forecast Growth

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

Northfield Bancorp Trading Up 0.1%

The stock has a market cap of $592.99 million, a P/E ratio of 11.92 and a beta of 0.72. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50 day moving average price is $13.72 and its 200-day moving average price is $12.60.

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

Northfield Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, May 6th. Northfield Bancorp’s dividend payout ratio is presently 433.33%.

Insider Buying and Selling

In related news, EVP David Fasanella acquired 7,500 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of $13.07 per share, for a total transaction of $98,025.00. Following the completion of the transaction, the executive vice president directly owned 11,500 shares in the company, valued at approximately $150,305. This trade represents a 187.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Stahlin acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were 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 of the company’s stock, valued at $716,929.26. This trade represents a 22.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 5.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in Northfield Bancorp by 133.1% in the first quarter. Royal Bank of Canada now owns 2,280 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,302 shares during the period. Quantinno Capital Management LP lifted its holdings in Northfield Bancorp by 33.2% in the first quarter. Quantinno Capital Management LP now owns 88,422 shares of the bank’s stock valued at $1,197,000 after acquiring an additional 22,018 shares during the period. Lazard Asset Management LLC lifted its holdings in Northfield Bancorp by 75.4% in the first quarter. Lazard Asset Management LLC now owns 60,579 shares of the bank’s stock valued at $820,000 after acquiring an additional 26,041 shares during the period. Renaissance Technologies LLC raised its position in Northfield Bancorp by 21.7% in the first quarter. Renaissance Technologies LLC now owns 1,308,449 shares of the bank’s stock worth $17,716,000 after acquiring an additional 233,300 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Northfield Bancorp by 3.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 777,399 shares of the bank’s stock worth $10,526,000 after acquiring an additional 23,863 shares during the period. 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.