Northfield Bancorp (NASDAQ:NFBK) Hits New 12-Month High – What’s Next?

Shares of Northfield Bancorp, Inc. (NASDAQ:NFBK) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $15.01 and last traded at $14.99, with a volume of 1155716 shares trading hands. The stock had previously closed at $14.55.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Northfield Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Northfield Bancorp has a consensus rating of “Hold” and an average price target of $14.50.

Northfield Bancorp Stock Performance

The stock has a fifty day moving average price of $14.18 and a two-hundred day moving average price of $13.27. The company has a market cap of $625.62 million, a P/E ratio of 124.83 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.

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

Northfield Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders 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 annualized dividend and a dividend yield of 3.5%. Northfield Bancorp’s dividend payout ratio is presently 433.33%.

Institutional Investors Weigh In On Northfield Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of NFBK. Signaturefd LLC grew its position in Northfield Bancorp by 41.6% in the 4th quarter. Signaturefd LLC now owns 3,019 shares of the bank’s stock valued at $35,000 after buying an additional 887 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Northfield Bancorp by 4.9% during the 4th quarter. MetLife Investment Management LLC now owns 19,613 shares of the bank’s stock worth $224,000 after buying an additional 918 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Northfield Bancorp by 29.9% in the 4th quarter. Russell Investments Group Ltd. now owns 4,479 shares of the bank’s stock worth $51,000 after acquiring an additional 1,032 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Northfield Bancorp by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,129 shares of the bank’s stock worth $174,000 after acquiring an additional 1,164 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of 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 in the last quarter. 65.51% of the stock is currently owned by 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.