Northfield Bancorp (NASDAQ:NFBK) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.91 and traded as high as $13.47. Northfield Bancorp shares last traded at $13.38, with a volume of 274,703 shares.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NFBK shares. Weiss Ratings downgraded shares of Northfield Bancorp from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, March 4th. Keefe, Bruyette & Woods raised their price target on shares of Northfield Bancorp from $12.00 to $14.50 and gave the company a “hold” rating in a research note on Friday, February 6th. Finally, New Street Research set a $14.50 price objective on Northfield Bancorp in a report on Friday, February 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Northfield Bancorp presently has a consensus rating of “Hold” and an average price target of $14.33.

Northfield Bancorp Stock Performance

The stock has a 50-day moving average of $13.15 and a 200 day moving average of $11.91. The stock has a market cap of $558.75 million, a PE ratio of 1,338.00 and a beta of 0.82. 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 (NASDAQ:NFBK) last issued its earnings results on Tuesday, February 3rd. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. Northfield Bancorp had a return on equity of 5.91% and a net margin of 0.30%.The business had revenue of $78.01 million during the quarter, compared to the consensus estimate of $39.48 million. Equities analysts predict that Northfield Bancorp, Inc. will post 0.82 EPS for the current fiscal year.

Northfield Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Thursday, February 12th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $0.52 dividend on an annualized basis and a yield of 3.9%. Northfield Bancorp’s payout ratio is 5,200.00%.

Insider Activity

In other news, EVP David Fasanella bought 7,500 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were bought at an average cost of $13.07 per share, for a total transaction of $98,025.00. Following the acquisition, the executive vice president directly owned 11,500 shares of the company’s stock, valued at $150,305. This trade represents a 187.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul Stahlin purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average price of $13.19 per share, with a total value of $131,900.00. Following the acquisition, the director directly owned 54,354 shares in the company, valued at approximately $716,929.26. The trade was a 22.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 5.95% of the company’s stock.

Hedge Funds Weigh In On Northfield Bancorp

Several large investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. increased its position in shares of Northfield Bancorp by 156.8% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 532,920 shares of the bank’s stock worth $6,288,000 after purchasing an additional 325,400 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Northfield Bancorp by 94.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 597,877 shares of the bank’s stock valued at $6,864,000 after acquiring an additional 290,030 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Northfield Bancorp by 181.9% in the 3rd quarter. Bank of America Corp DE now owns 296,137 shares of the bank’s stock valued at $3,494,000 after acquiring an additional 191,079 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Northfield Bancorp in the 3rd quarter worth approximately $1,941,000. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Northfield Bancorp by 99.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 218,707 shares of the bank’s stock worth $2,500,000 after purchasing an additional 109,012 shares during the period. Institutional investors and hedge funds own 65.51% of the company’s stock.

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.