Northfield Bancorp (NASDAQ:NFBK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “NORTHFIELD Building Loan and Savings Association in the village of Mariners Harbor, Town of Northfield, County of Richmond, by a group of Staten Islanders for the purpose of rendering mutual aid to each other, and to those who shall hereafter be associated with us. “
Several other analysts have also issued reports on NFBK. BidaskClub lowered Northfield Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th. Piper Jaffray Companies reissued a “hold” rating and set a $18.00 target price on shares of Northfield Bancorp in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $20.00 target price on shares of Northfield Bancorp in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Northfield Bancorp has an average rating of “Hold” and an average target price of $18.50.
Northfield Bancorp (NASDAQ:NFBK) opened at $16.89 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.17 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $822.83, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 2.87 and a beta of 0.34. Northfield Bancorp has a 12-month low of $15.35 and a 12-month high of $19.25.
Northfield Bancorp (NASDAQ:NFBK) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $30.40 million for the quarter, compared to analysts’ expectations of $30.67 million. Northfield Bancorp had a return on equity of 5.03% and a net margin of 17.14%. During the same quarter last year, the business earned $0.18 EPS. sell-side analysts forecast that Northfield Bancorp will post 0.74 earnings per share for the current fiscal year.
In other news, EVP Robin Lefkowitz sold 2,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $17.00, for a total transaction of $34,000.00. Following the sale, the executive vice president now directly owns 30,433 shares of the company’s stock, valued at approximately $517,361. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Steven M. Klein sold 7,500 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $17.06, for a total value of $127,950.00. Following the sale, the chief executive officer now directly owns 336,400 shares in the company, valued at $5,738,984. The disclosure for this sale can be found here. Corporate insiders own 9.34% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Northfield Bancorp by 0.5% in the second quarter. BlackRock Inc. now owns 5,519,013 shares of the bank’s stock valued at $94,653,000 after buying an additional 24,921 shares in the last quarter. California Public Employees Retirement System boosted its stake in Northfield Bancorp by 6.4% in the second quarter. California Public Employees Retirement System now owns 120,400 shares of the bank’s stock valued at $2,065,000 after buying an additional 7,200 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Northfield Bancorp by 23.9% in the second quarter. Wells Fargo & Company MN now owns 43,740 shares of the bank’s stock valued at $750,000 after buying an additional 8,443 shares in the last quarter. Northern Trust Corp boosted its stake in Northfield Bancorp by 4.5% in the second quarter. Northern Trust Corp now owns 589,775 shares of the bank’s stock valued at $10,115,000 after buying an additional 25,169 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Northfield Bancorp by 1.9% in the second quarter. Vanguard Group Inc. now owns 3,919,386 shares of the bank’s stock valued at $67,218,000 after buying an additional 72,692 shares in the last quarter. 52.91% of the stock is currently owned by institutional investors and hedge funds.
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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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