Northfield Bancorp (NASDAQ:NFBK) Sets New 12-Month High – Should You Buy?

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $14.15 and last traded at $14.18, with a volume of 173951 shares changing hands. The stock had previously closed at $13.94.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NFBK shares. Weiss Ratings raised Northfield Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, April 17th. New Street Research set a $14.50 price target on Northfield Bancorp in a report on Friday, February 6th. Finally, Keefe, Bruyette & Woods boosted their price target on Northfield Bancorp from $12.00 to $14.50 and gave the company a “hold” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.33.

Northfield Bancorp Stock Up 1.6%

The stock has a 50-day moving average of $13.52 and a 200-day moving average of $12.23. The firm has a market cap of $591.32 million, a price-to-earnings ratio of 118.00 and a beta of 0.75. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.99 and a quick ratio of 0.99.

Northfield Bancorp (NASDAQ:NFBK) last announced its quarterly earnings data on Tuesday, April 21st. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Northfield Bancorp had a net margin of 1.77% and a return on equity of 6.72%. The firm had revenue of $40.38 million for the quarter, compared to the consensus estimate of $40.60 million.

Northfield Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be given 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 3.7%. Northfield Bancorp’s dividend payout ratio (DPR) is currently 433.33%.

Insider Buying and Selling

In other news, EVP David Fasanella acquired 7,500 shares of the stock in a transaction on Thursday, March 19th. The stock was acquired at an average cost 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. This trade represents a 187.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul Stahlin bought 10,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were acquired at an average price of $13.19 per share, with a total value of $131,900.00. Following the completion of the purchase, the director directly owned 54,354 shares of the company’s stock, 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. Company insiders own 6.48% of the company’s stock.

Institutional Trading of Northfield Bancorp

Several large investors have recently bought and sold shares of NFBK. M3F Inc. bought a new position in Northfield Bancorp in the first quarter valued at about $10,516,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Northfield Bancorp by 156.8% in the third quarter. Hillsdale Investment Management Inc. now owns 532,920 shares of the bank’s stock worth $6,288,000 after acquiring an additional 325,400 shares during the last quarter. Bank of America Corp DE boosted 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 purchasing an additional 191,079 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Northfield Bancorp by 99.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 218,707 shares of the bank’s stock valued at $2,500,000 after purchasing an additional 109,012 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Northfield Bancorp by 351.3% during the 3rd quarter. First Trust Advisors LP now owns 138,207 shares of the bank’s stock valued at $1,631,000 after purchasing an additional 107,584 shares during the last quarter. 65.51% of the stock is owned by institutional investors and hedge funds.

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.