Northfield Bancorp (NFBK) Downgraded to Sell at BidaskClub

BidaskClub cut shares of Northfield Bancorp (NASDAQ:NFBK) from a hold rating to a sell rating in a research note released on Friday.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $20.00 target price on shares of Northfield Bancorp in a research report on Friday, December 22nd. Piper Jaffray Companies reaffirmed a hold rating on shares of Northfield Bancorp in a research report on Friday, November 10th.

Northfield Bancorp (NASDAQ:NFBK) traded down $0.12 during midday trading on Friday, reaching $16.75. The company had a trading volume of 69,700 shares, compared to its average volume of 82,000. The stock has a market cap of $824.60, a price-to-earnings ratio of 22.64, a P/E/G ratio of 2.50 and a beta of 0.34. Northfield Bancorp has a twelve month low of $15.35 and a twelve month high of $19.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.17 and a quick ratio of 1.17.

Northfield Bancorp (NASDAQ:NFBK) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Northfield Bancorp had a return on equity of 4.97% and a net margin of 24.39%. The business had revenue of $29.97 million during the quarter, compared to analyst estimates of $29.66 million. research analysts anticipate that Northfield Bancorp will post 0.73 EPS for the current fiscal year.

In other news, EVP Robin Lefkowitz sold 2,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $17.00, for a total transaction of $34,000.00. Following the completion of the sale, the executive vice president now directly owns 30,433 shares of the company’s stock, valued at approximately $517,361. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 9.34% of the company’s stock.

Several institutional investors have recently made changes to their positions in NFBK. Dimensional Fund Advisors LP increased its position in shares of Northfield Bancorp by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,194,954 shares of the bank’s stock valued at $54,794,000 after purchasing an additional 108,637 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Northfield Bancorp by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,919,386 shares of the bank’s stock valued at $67,218,000 after purchasing an additional 72,692 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Northfield Bancorp by 3.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,964,618 shares of the bank’s stock valued at $33,693,000 after purchasing an additional 61,350 shares during the last quarter. State Street Corp increased its position in shares of Northfield Bancorp by 3.1% during the 2nd quarter. State Street Corp now owns 1,193,509 shares of the bank’s stock valued at $20,467,000 after purchasing an additional 36,329 shares during the last quarter. Finally, Citadel Advisors LLC increased its position in shares of Northfield Bancorp by 20.8% during the 3rd quarter. Citadel Advisors LLC now owns 170,021 shares of the bank’s stock valued at $2,950,000 after purchasing an additional 29,266 shares during the last quarter. 53.07% of the stock is owned by hedge funds and other institutional investors.

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About Northfield Bancorp

Northfield Bancorp, Inc is a holding company for Northfield Bank (the Bank). Northfield Bank’s principal business consists of originating commercial real estate loans and multifamily real estate loans, purchasing investment securities including mortgage-backed securities and corporate bonds, as well as depositing funds in other financial institutions.

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