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

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $15.01 and last traded at $14.9010, with a volume of 121702 shares traded. The stock had previously closed at $14.66.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NFBK. Wall Street Zen upgraded Northfield Bancorp to a “hold” rating in a research report on Saturday, July 4th. Weiss Ratings cut Northfield Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.50.

Northfield Bancorp Trading Up 1.0%

The stock has a market capitalization of $618.47 million, a P/E ratio of 123.42 and a beta of 0.71. The stock’s fifty day moving average price is $14.43 and its two-hundred day moving average price is $13.56. 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 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $40.38 million for the quarter, compared to analyst estimates of $40.60 million. Northfield Bancorp had a net margin of 1.77% and a return on equity of 6.75%.

Institutional Inflows and Outflows

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