Northfield Bancorp (NASDAQ:NFBK) Sets New 1-Year High – Should You Buy?

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $14.76 and last traded at $14.74, with a volume of 443086 shares traded. The stock had previously closed at $14.65.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Northfield Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.50.

Northfield Bancorp Trading Up 0.6%

The company has a market cap of $615.60 million, a price-to-earnings ratio of 122.83 and a beta of 0.72. The business’s 50 day moving average price is $14.02 and its 200-day moving average price is $13.00. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.98 and a current ratio of 0.98.

Northfield Bancorp (NASDAQ:NFBK) last posted its earnings results on Tuesday, April 21st. The bank reported $0.34 earnings per share for the quarter, beating 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.52 dividend on an annualized basis and a yield of 3.5%. Northfield Bancorp’s payout ratio is presently 433.33%.

Insider Transactions at Northfield Bancorp

In other Northfield Bancorp news, EVP David Fasanella bought 7,500 shares of the stock in a transaction that occurred on 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 completion of the purchase, the executive vice president directly owned 11,500 shares in the company, valued at $150,305. The trade was a 187.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul Stahlin bought 10,000 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average cost of $13.19 per share, for a total transaction of $131,900.00. Following the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 5.95% of the company’s stock.

Institutional Trading of Northfield Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its stake in Northfield Bancorp by 41.6% in the fourth quarter. Signaturefd LLC now owns 3,019 shares of the bank’s stock valued at $35,000 after acquiring an additional 887 shares during the period. MetLife Investment Management LLC increased its stake in Northfield Bancorp by 4.9% in the fourth quarter. MetLife Investment Management LLC now owns 19,613 shares of the bank’s stock valued at $224,000 after acquiring an additional 918 shares during the period. Russell Investments Group Ltd. boosted its position in Northfield Bancorp by 29.9% in the fourth quarter. Russell Investments Group Ltd. now owns 4,479 shares of the bank’s stock valued at $51,000 after buying an additional 1,032 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Northfield Bancorp by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 15,129 shares of the bank’s stock valued at $174,000 after buying an additional 1,164 shares in the last quarter. Finally, Royal Bank of Canada boosted its position 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 buying an additional 1,302 shares in the last quarter. Institutional investors own 65.51% of the company’s stock.

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.