Northfield Bancorp (NASDAQ:NFBK) Announces Earnings Results, Beats Estimates By $0.02 EPS
by Amy Steele · The Cerbat GemNorthfield Bancorp (NASDAQ:NFBK – Get Free Report) released its earnings results on Monday. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02, Zacks reports. The firm had revenue of $40.38 million for the quarter, compared to analyst estimates of $40.60 million. Northfield Bancorp had a net margin of 0.30% and a return on equity of 5.91%.
Northfield Bancorp Price Performance
Shares of NASDAQ:NFBK opened at $13.85 on Tuesday. The company has a 50-day moving average price of $13.51 and a two-hundred day moving average price of $12.15. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.39. Northfield Bancorp has a twelve month low of $9.46 and a twelve month high of $14.11. The firm has a market capitalization of $578.38 million, a PE ratio of 1,385.00 and a beta of 0.75.
Northfield Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, May 6th. This represents a $0.52 annualized dividend and a dividend yield of 3.8%. Northfield Bancorp’s dividend payout ratio (DPR) is presently 5,200.00%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on NFBK. Keefe, Bruyette & Woods upped their target price on Northfield Bancorp from $12.00 to $14.50 and gave the stock a “hold” rating in a report on Friday, February 6th. New Street Research set a $14.50 target price on Northfield Bancorp in a report on Friday, February 6th. Finally, Weiss Ratings upgraded shares of Northfield Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.33.
Get Our Latest Research Report on Northfield Bancorp
Insider Activity
In related news, Director Paul Stahlin bought 10,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director directly owned 54,354 shares in the company, valued at $716,929.26. This trade represents a 22.55% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Fasanella acquired 7,500 shares of Northfield Bancorp stock in a transaction dated Thursday, March 19th. The shares were purchased at an average price of $13.07 per share, for a total transaction of $98,025.00. Following the completion of the transaction, the executive vice president directly owned 11,500 shares in the company, valued at approximately $150,305. The trade was a 187.50% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 6.48% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of NFBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Northfield Bancorp by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,012 shares of the bank’s stock valued at $251,000 after acquiring an additional 1,426 shares during the period. Empowered Funds LLC lifted its position in Northfield Bancorp by 3.7% during the 1st quarter. Empowered Funds LLC now owns 133,823 shares of the bank’s stock valued at $1,460,000 after acquiring an additional 4,741 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Northfield Bancorp in the 2nd quarter worth approximately $172,000. Prudential Financial Inc. bought a new position in Northfield Bancorp during the 2nd quarter valued at approximately $185,000. Finally, First Trust Advisors LP increased its position in Northfield Bancorp by 6.5% during the 2nd quarter. First Trust Advisors LP now owns 30,623 shares of the bank’s stock valued at $352,000 after buying an additional 1,880 shares in the last quarter. Hedge funds and other 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.