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

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s share price reached a new 52-week high on Wednesday . The company traded as high as $14.36 and last traded at $14.2660, with a volume of 10203 shares traded. The stock had previously closed at $14.29.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NFBK shares. New Street Research set a $14.50 price target on Northfield Bancorp in a research note on Friday, February 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Northfield Bancorp from $12.00 to $14.50 and gave the company a “hold” rating in a research report on Friday, February 6th. Finally, Weiss Ratings raised shares of Northfield Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Northfield Bancorp Stock Down 0.0%

The company has a debt-to-equity ratio of 1.24, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $596.60 million, a price-to-earnings ratio of 118.98 and a beta of 0.72. The firm’s 50-day simple moving average is $13.79 and its two-hundred day simple moving average is $12.68.

Northfield Bancorp (NASDAQ:NFBK) last posted its quarterly earnings results on Tuesday, April 21st. The bank reported $0.34 earnings per share (EPS) for the quarter, beating 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 net margin of 1.77% and a return on equity of 6.75%.

Northfield Bancorp Announces Dividend

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

Insider Buying and Selling at Northfield Bancorp

In other news, Director Paul Stahlin bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were bought at an average cost of $13.19 per share, for a total transaction of $131,900.00. Following the completion of the transaction, the director owned 54,354 shares in the company, valued at $716,929.26. This trade represents a 22.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Fasanella bought 7,500 shares of the stock in a transaction on Thursday, March 19th. The stock was purchased at an average cost of $13.07 per share, for a total transaction of $98,025.00. Following the acquisition, the executive vice president directly owned 11,500 shares of the company’s stock, valued at $150,305. The trade was a 187.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.48% of the company’s stock.

Hedge Funds Weigh In On Northfield Bancorp

Several hedge funds have recently added to or reduced their stakes in NFBK. Royal Bank of Canada raised its position in Northfield Bancorp by 133.1% during the first quarter. Royal Bank of Canada now owns 2,280 shares of the bank’s stock worth $30,000 after acquiring an additional 1,302 shares during the last quarter. Signaturefd LLC grew its position in shares of Northfield Bancorp by 41.6% in the fourth quarter. Signaturefd LLC now owns 3,019 shares of the bank’s stock valued at $35,000 after purchasing an additional 887 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Northfield Bancorp by 1,195.9% in the third quarter. Russell Investments Group Ltd. now owns 3,447 shares of the bank’s stock valued at $41,000 after purchasing an additional 3,181 shares during the last quarter. Quadrant Capital Group LLC purchased a new position in shares of Northfield Bancorp during the 3rd quarter worth approximately $77,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Northfield Bancorp by 30,922.6% during the 4th quarter. Cornerstone Planning Group LLC now owns 9,617 shares of the bank’s stock worth $114,000 after purchasing an additional 9,586 shares during the last quarter. 65.51% of the stock is currently owned by hedge funds and other institutional investors.

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.