Brokerages Set Northfield Bancorp Inc (NFBK) Target Price at $17.50

Shares of Northfield Bancorp Inc (NASDAQ:NFBK) have been given an average rating of “Hold” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $17.50.

A number of analysts have recently issued reports on NFBK shares. BidaskClub cut Northfield Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 18th. Sandler O’Neill reaffirmed a “hold” rating and issued a $16.50 price objective on shares of Northfield Bancorp in a research report on Monday, March 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $18.50 price objective on shares of Northfield Bancorp in a research report on Tuesday, February 27th. Zacks Investment Research cut Northfield Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, February 24th. Finally, ValuEngine cut Northfield Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, April 18th.

NASDAQ NFBK traded up $0.05 during trading hours on Friday, hitting $16.37. 92,300 shares of the company traded hands, compared to its average volume of 98,041. Northfield Bancorp has a twelve month low of $15.14 and a twelve month high of $18.39. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $822.47 million, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.51 and a beta of 0.36.



Northfield Bancorp (NASDAQ:NFBK) last issued its quarterly earnings results on Wednesday, April 25th. The bank reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. Northfield Bancorp had a return on equity of 5.43% and a net margin of 17.38%. The firm had revenue of $29.95 million during the quarter, compared to analysts’ expectations of $29.87 million. research analysts forecast that Northfield Bancorp will post 0.84 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 23rd. Stockholders of record on Wednesday, May 9th were given a $0.10 dividend. The ex-dividend date was Tuesday, May 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.44%. Northfield Bancorp’s payout ratio is 54.79%.

In related news, EVP William R. Jacobs sold 2,166 shares of Northfield Bancorp stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $16.41, for a total transaction of $35,544.06. Following the completion of the sale, the executive vice president now directly owns 222,877 shares of the company’s stock, valued at approximately $3,657,411.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kenneth J. Doherty sold 19,849 shares of Northfield Bancorp stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $15.95, for a total value of $316,591.55. Following the sale, the executive vice president now directly owns 198,742 shares of the company’s stock, valued at $3,169,934.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,726 shares of company stock valued at $1,929,808. Insiders own 9.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Northfield Bancorp by 2.5% during the 1st quarter. BlackRock Inc. now owns 5,965,947 shares of the bank’s stock worth $93,129,000 after purchasing an additional 148,278 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Northfield Bancorp by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,427,047 shares of the bank’s stock worth $53,496,000 after purchasing an additional 134,203 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Northfield Bancorp by 4.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,605,298 shares of the bank’s stock worth $25,059,000 after purchasing an additional 64,984 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Northfield Bancorp by 58.9% during the 1st quarter. Russell Investments Group Ltd. now owns 950,043 shares of the bank’s stock worth $14,830,000 after purchasing an additional 352,226 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Northfield Bancorp by 0.6% during the 1st quarter. Northern Trust Corp now owns 584,936 shares of the bank’s stock worth $9,131,000 after purchasing an additional 3,715 shares during the last quarter. 55.03% of the stock is owned by institutional investors and hedge funds.

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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