M3F Inc. Makes New Investment in Northfield Bancorp, Inc. $NFBK

M3F Inc. purchased a new position in Northfield Bancorp, Inc. (NASDAQ:NFBK) in the first quarter, Holdings Channel reports. The institutional investor purchased 776,630 shares of the bank’s stock, valued at approximately $10,516,000. Northfield Bancorp comprises 2.6% of M3F Inc.’s investment portfolio, making the stock its 11th largest holding.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC grew its holdings in Northfield Bancorp by 41.6% during 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. Russell Investments Group Ltd. increased its position in shares of Northfield Bancorp by 1,195.9% during the third quarter. Russell Investments Group Ltd. now owns 3,447 shares of the bank’s stock valued at $41,000 after buying an additional 3,181 shares during the period. Quadrant Capital Group LLC bought a new stake in shares of Northfield Bancorp during the third quarter valued at about $77,000. Cornerstone Planning Group LLC lifted its holdings in shares of Northfield Bancorp by 30,922.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 9,617 shares of the bank’s stock worth $114,000 after buying an additional 9,586 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Northfield Bancorp in the fourth quarter worth about $125,000. 65.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NFBK has been the subject of several recent analyst reports. Wall Street Zen raised shares of Northfield Bancorp to a “hold” rating in a research note on Saturday. Weiss Ratings cut shares of Northfield Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Northfield Bancorp currently has a consensus rating of “Hold” and a consensus price target of $14.50.

Northfield Bancorp Price Performance

Shares of NASDAQ NFBK opened at $14.79 on Monday. The firm has a market capitalization of $617.63 million, a P/E ratio of 123.25 and a beta of 0.71. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.24. The stock’s 50-day simple moving average is $14.30 and its two-hundred day simple moving average is $13.39. Northfield Bancorp, Inc. has a twelve month low of $9.90 and a twelve month high of $15.01.

Northfield Bancorp (NASDAQ:NFBK) last issued 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 during 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%.

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.