Northfield Bancorp (NASDAQ:NFBK) Sets New 1-Year High – Should You Buy?

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $14.76 and last traded at $14.74, with a volume of 443086 shares trading hands. The stock had previously closed at $14.65.

Wall Street Analyst Weigh In

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

Northfield Bancorp Price Performance

The company’s fifty day moving average is $14.02 and its two-hundred day moving average is $13.00. The firm has a market capitalization of $615.60 million, a price-to-earnings ratio of 122.83 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.24.

Northfield Bancorp (NASDAQ:NFBK) last announced its quarterly earnings data on Tuesday, April 21st. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. Northfield Bancorp had a net margin of 1.77% and a return on equity of 6.75%. The business had revenue of $40.38 million for the quarter, compared to analyst estimates of $40.60 million.

Northfield Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.5%. The ex-dividend date was Wednesday, May 6th. Northfield Bancorp’s dividend payout ratio is currently 433.33%.

Insider Activity at Northfield Bancorp

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

Institutional Investors Weigh In On Northfield Bancorp

Several large investors have recently bought and sold shares of NFBK. M3F Inc. bought a new stake in Northfield Bancorp in the first quarter valued at approximately $10,516,000. Hillsdale Investment Management Inc. increased its stake in Northfield Bancorp by 156.8% in the third quarter. Hillsdale Investment Management Inc. now owns 532,920 shares of the bank’s stock valued at $6,288,000 after purchasing an additional 325,400 shares in the last quarter. Renaissance Technologies LLC increased its stake in Northfield Bancorp by 21.7% in the first quarter. Renaissance Technologies LLC now owns 1,308,449 shares of the bank’s stock valued at $17,716,000 after purchasing an additional 233,300 shares in the last quarter. Bank of America Corp DE increased its stake in Northfield Bancorp by 181.9% in the third 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. Finally, O Shaughnessy Asset Management LLC increased its stake in Northfield Bancorp by 99.4% in the fourth 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. 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.