Northfield Bancorp (NASDAQ:NFBK) Hits New 52-Week High – What’s Next?

Northfield Bancorp, Inc. (NASDAQ:NFBK) hit a new 52-week high on Friday . The company traded as high as $14.36 and last traded at $14.3350, with a volume of 116798 shares. The stock had previously closed at $14.26.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Northfield Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.50.

Northfield Bancorp Price Performance

The business has a fifty day moving average price of $13.94 and a 200-day moving average price of $12.88. The stock has a market capitalization of $599.26 million, a PE ratio of 119.58 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.24.

Northfield Bancorp (NASDAQ:NFBK) last released its earnings results on Tuesday, April 21st. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $40.38 million during the quarter, compared to the consensus estimate of $40.60 million. Northfield Bancorp had a return on equity of 6.75% and a net margin of 1.77%.

Northfield Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a $0.13 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $0.52 dividend on an annualized basis and a yield of 3.6%. Northfield Bancorp’s payout ratio is presently 433.33%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Northfield Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of NFBK. M3F Inc. bought a new stake in shares of Northfield Bancorp in the 1st quarter valued at about $10,516,000. Hillsdale Investment Management Inc. lifted its stake in shares of Northfield Bancorp by 156.8% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 532,920 shares of the bank’s stock valued at $6,288,000 after acquiring an additional 325,400 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Northfield Bancorp by 21.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,308,449 shares of the bank’s stock valued at $17,716,000 after acquiring an additional 233,300 shares during the last quarter. Bank of America Corp DE lifted 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 last quarter. Finally, O Shaughnessy Asset Management LLC lifted 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 acquiring an additional 109,012 shares during the last quarter. 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.