Northfield Bancorp’s (NFBK) “Neutral” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their neutral rating on shares of Northfield Bancorp (NASDAQ:NFBK) in a research note published on Thursday morning.

NFBK has been the subject of several other research reports. Zacks Investment Research lowered Northfield Bancorp from a buy rating to a hold rating in a research report on Thursday, May 17th. ValuEngine upgraded Northfield Bancorp from a sell rating to a hold rating in a research report on Tuesday, June 5th. Finally, BidaskClub upgraded Northfield Bancorp from a sell rating to a hold rating in a research report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $17.60.

Northfield Bancorp traded down $0.14, hitting $16.20, on Thursday, according to Marketbeat Ratings. The company had a trading volume of 44,520 shares, compared to its average volume of 59,986. The firm has a market cap of $802.82 million, a P/E ratio of 22.19, a P/E/G ratio of 2.46 and a beta of 0.38. Northfield Bancorp has a 12-month low of $15.14 and a 12-month high of $18.39. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 0.81.

Northfield Bancorp (NASDAQ:NFBK) last released its quarterly earnings results on Friday, July 27th. The bank reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The company had revenue of $30.22 million during the quarter, compared to analyst estimates of $30.37 million. Northfield Bancorp had a return on equity of 5.75% and a net margin of 18.48%. research analysts forecast that Northfield Bancorp will post 0.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 22nd. Shareholders of record on Wednesday, August 8th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 7th. This represents a $0.40 annualized dividend and a dividend yield of 2.47%. Northfield Bancorp’s dividend payout ratio (DPR) is presently 54.79%.

In other Northfield Bancorp news, EVP Kenneth J. Doherty sold 19,849 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $15.95, for a total transaction of $316,591.55. Following the completion of the transaction, the executive vice president now owns 198,742 shares in the company, valued at $3,169,934.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman John Wade Alexander sold 10,027 shares of the business’s stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $16.55, for a total value of $165,946.85. Following the transaction, the chairman now owns 370,389 shares of the company’s stock, valued at approximately $6,129,937.95. The disclosure for this sale can be found here. Insiders have sold 114,269 shares of company stock valued at $1,882,022 in the last 90 days. Company insiders own 9.34% of the company’s stock.

Several large investors have recently made changes to their positions in NFBK. BlackRock Inc. raised its stake in shares of Northfield Bancorp by 7.3% during the second quarter. BlackRock Inc. now owns 6,402,460 shares of the bank’s stock valued at $106,409,000 after acquiring an additional 436,513 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Northfield Bancorp by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,542,428 shares of the bank’s stock valued at $58,875,000 after acquiring an additional 115,381 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Northfield Bancorp by 4.2% during the first quarter. JPMorgan Chase & Co. now owns 1,605,298 shares of the bank’s stock valued at $25,059,000 after acquiring an additional 64,984 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Northfield Bancorp by 58.9% during the first quarter. Russell Investments Group Ltd. now owns 950,043 shares of the bank’s stock valued at $14,830,000 after acquiring an additional 352,226 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Northfield Bancorp by 0.6% during the first quarter. Northern Trust Corp now owns 584,936 shares of the bank’s stock valued at $9,131,000 after acquiring an additional 3,715 shares in the last quarter. Institutional investors and hedge funds own 54.82% of the company’s stock.

Northfield Bancorp Company Profile

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.

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