Northfield Bancorp (NFBK) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Northfield Bancorp (NASDAQ:NFBK) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. The firm currently has $18.00 price target on the bank’s stock.

According to Zacks, “NORTHFIELD Building Loan and Savings Association in the village of Mariners Harbor, Town of Northfield, County of Richmond, by a group of Staten Islanders for the purpose of rendering mutual aid to each other, and to those who shall hereafter be associated with us. “

A number of other equities research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a hold rating and issued a $20.00 target price on shares of Northfield Bancorp in a research report on Friday, December 22nd. Piper Jaffray Companies reiterated a hold rating on shares of Northfield Bancorp in a research report on Friday, November 10th. Finally, BidaskClub downgraded shares of Northfield Bancorp from a sell rating to a strong sell rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $18.25.

Northfield Bancorp (NASDAQ:NFBK) traded up $0.26 during mid-day trading on Thursday, reaching $15.62. 87,113 shares of the company’s stock were exchanged, compared to its average volume of 100,807. Northfield Bancorp has a 12 month low of $15.27 and a 12 month high of $19.25. The company has a current ratio of 1.11, a quick ratio of 1.17 and a debt-to-equity ratio of 0.73. The stock has a market cap of $765.73, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 2.67 and a beta of 0.29.

Northfield Bancorp (NASDAQ:NFBK) last released its earnings results on Wednesday, January 24th. The bank reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Northfield Bancorp had a net margin of 17.14% and a return on equity of 5.03%. The company had revenue of $30.40 million during the quarter, compared to the consensus estimate of $30.67 million. During the same quarter in the prior year, the firm earned $0.18 EPS. analysts expect that Northfield Bancorp will post 0.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, February 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.56%. Northfield Bancorp’s dividend payout ratio is currently 76.92%.

In other news, Director Gil Chapman sold 16,102 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $16.73, for a total transaction of $269,386.46. Following the transaction, the director now owns 104,415 shares in the company, valued at approximately $1,746,862.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven M. Klein sold 7,500 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $17.06, for a total transaction of $127,950.00. Following the completion of the transaction, the chief executive officer now owns 336,400 shares in the company, valued at $5,738,984. The disclosure for this sale can be found here. Insiders have sold a total of 37,602 shares of company stock worth $632,216 in the last 90 days. 9.34% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Thrivent Financial For Lutherans grew its stake in Northfield Bancorp by 7.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 27,380 shares of the bank’s stock valued at $470,000 after buying an additional 1,860 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Northfield Bancorp by 1.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 206,514 shares of the bank’s stock valued at $3,542,000 after buying an additional 1,946 shares during the last quarter. Voya Investment Management LLC grew its stake in Northfield Bancorp by 7.4% in the 2nd quarter. Voya Investment Management LLC now owns 28,740 shares of the bank’s stock valued at $493,000 after buying an additional 1,970 shares during the last quarter. Teachers Advisors LLC grew its stake in Northfield Bancorp by 3.5% in the 2nd quarter. Teachers Advisors LLC now owns 100,254 shares of the bank’s stock valued at $1,719,000 after buying an additional 3,432 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Northfield Bancorp by 4.4% in the 3rd quarter. Legal & General Group Plc now owns 83,956 shares of the bank’s stock valued at $1,457,000 after buying an additional 3,561 shares during the last quarter. Institutional investors and hedge funds own 52.97% of the company’s stock.

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Northfield Bancorp Company Profile

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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