ValuEngine Downgrades Northfield Bancorp (NFBK) to Sell

ValuEngine cut shares of Northfield Bancorp (NASDAQ:NFBK) from a hold rating to a sell rating in a research report released on Wednesday.

A number of other brokerages have also weighed in on NFBK. Keefe, Bruyette & Woods restated a hold rating and issued a $20.00 target price on shares of Northfield Bancorp in a research note on Friday, December 22nd. BidaskClub lowered Northfield Bancorp from a sell rating to a strong sell rating in a research note on Friday, January 26th. Zacks Investment Research lowered Northfield Bancorp from a buy rating to a hold rating in a research note on Friday, February 2nd. Piper Jaffray restated a hold rating and issued a $18.00 target price on shares of Northfield Bancorp in a research note on Tuesday, January 9th. Finally, Sandler O’Neill restated a hold rating and issued a $16.50 target price on shares of Northfield Bancorp in a research note on Monday, March 26th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Northfield Bancorp currently has a consensus rating of Hold and a consensus target price of $17.80.

Shares of NFBK opened at $15.84 on Wednesday. The stock has a market cap of $778.17, a P/E ratio of 22.96, a P/E/G ratio of 2.46 and a beta of 0.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.11 and a current ratio of 1.11. Northfield Bancorp has a 52-week low of $15.14 and a 52-week high of $19.08.

Northfield Bancorp (NASDAQ:NFBK) last announced its earnings results on Wednesday, January 24th. The bank reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $30.40 million for the quarter, compared to analyst estimates of $30.67 million. Northfield Bancorp had a return on equity of 5.03% and a net margin of 17.14%. During the same period in the prior year, the company earned $0.18 EPS. research analysts expect that Northfield Bancorp will post 0.81 EPS for the current year.

In other news, EVP Michael J. Widmer sold 10,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $15.56, for a total transaction of $155,600.00. Following the transaction, the executive vice president now directly owns 147,633 shares in the company, valued at approximately $2,297,169.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gil Chapman sold 16,102 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $16.73, for a total value of $269,386.46. Following the transaction, the director now owns 104,415 shares in the company, valued at $1,746,862.95. The disclosure for this sale can be found here. Insiders sold a total of 151,763 shares of company stock worth $2,425,744 over the last 90 days. Corporate insiders own 9.34% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Northfield Bancorp by 4.4% during the 3rd quarter. Legal & General Group Plc now owns 83,956 shares of the bank’s stock valued at $1,457,000 after purchasing an additional 3,561 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Northfield Bancorp by 27.1% during the 4th quarter. Two Sigma Advisers LP now owns 44,053 shares of the bank’s stock valued at $752,000 after purchasing an additional 9,400 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Northfield Bancorp by 7.4% during the 4th quarter. California Public Employees Retirement System now owns 141,427 shares of the bank’s stock valued at $2,416,000 after purchasing an additional 9,728 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Northfield Bancorp by 4.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 227,865 shares of the bank’s stock valued at $3,892,000 after purchasing an additional 9,774 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Northfield Bancorp by 45.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 33,792 shares of the bank’s stock valued at $577,000 after purchasing an additional 10,495 shares during the last quarter. Hedge funds and other institutional investors own 53.33% of the company’s stock.

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About Northfield Bancorp

Northfield Bancorp, Inc operates as the bank holding company for Northfield Bank that provides various banking products and services primarily to individuals and corporate customers. It accepts various deposits products, including transaction accounts comprising negotiable orders of withdrawal accounts and non-interest bearing checking accounts; savings accounts, such as money market, passbook, and statement savings; certificates of deposit consisting of individual retirement accounts; and brokered deposits.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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