Northfield Bancorp (NASDAQ:NFBK) Downgraded to Strong Sell at BidaskClub

Northfield Bancorp (NASDAQ:NFBK) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday, January 26th.

Several other equities analysts have also issued reports on NFBK. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $17.00 target price on shares of Northfield Bancorp in a report on Tuesday, October 3rd. Piper Jaffray Companies reissued a “hold” rating on shares of Northfield Bancorp in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.25.

Northfield Bancorp (NFBK) opened at $15.67 on Friday. Northfield Bancorp has a 52 week low of $15.27 and a 52 week high of $19.25. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.17 and a current ratio of 1.11. The firm has a market capitalization of $772.08, a P/E ratio of 30.14, a P/E/G ratio of 2.69 and a beta of 0.29.

Northfield Bancorp (NASDAQ:NFBK) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $30.40 million during the quarter, compared to analyst estimates of $30.67 million. Northfield Bancorp had a return on equity of 5.03% and a net margin of 17.14%. During the same period in the previous year, the company posted $0.18 EPS. analysts anticipate that Northfield Bancorp will post 0.74 earnings per share for the current year.

In other Northfield Bancorp news, EVP Robin Lefkowitz sold 2,000 shares of the firm’s stock in a transaction dated 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 owns 30,433 shares in the company, valued at $517,361. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven M. Klein sold 7,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $17.06, for a total value of $127,950.00. Following the transaction, 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. Insiders sold 47,602 shares of company stock worth $787,816 in the last quarter. 9.34% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. grew its stake in shares of Northfield Bancorp by 45.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 33,792 shares of the bank’s stock worth $577,000 after purchasing an additional 10,495 shares during the last quarter. BlackRock Inc. lifted its holdings in Northfield Bancorp by 2.1% in the fourth quarter. BlackRock Inc. now owns 5,817,669 shares of the bank’s stock worth $99,366,000 after buying an additional 120,290 shares during the period. Rhumbline Advisers lifted its holdings in Northfield Bancorp by 9.9% in the fourth quarter. Rhumbline Advisers now owns 130,694 shares of the bank’s stock worth $2,232,000 after buying an additional 11,725 shares during the period. Arizona State Retirement System lifted its holdings in Northfield Bancorp by 223.6% in the fourth quarter. Arizona State Retirement System now owns 78,047 shares of the bank’s stock worth $1,333,000 after buying an additional 53,932 shares during the period. Finally, Pinebridge Investments L.P. lifted its holdings in Northfield Bancorp by 84.6% in the fourth quarter. Pinebridge Investments L.P. now owns 55,321 shares of the bank’s stock worth $945,000 after buying an additional 25,350 shares during the period. 53.54% of the stock is currently owned by institutional investors.

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About Northfield Bancorp

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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