Brokerages Anticipate Northfield Bancorp Inc (NFBK) to Announce $0.21 Earnings Per Share

Wall Street analysts expect that Northfield Bancorp Inc (NASDAQ:NFBK) will announce earnings of $0.21 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Northfield Bancorp’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.20. Northfield Bancorp reported earnings of $0.17 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.5%. The company is scheduled to issue its next earnings results on Wednesday, October 24th.

On average, analysts expect that Northfield Bancorp will report full year earnings of $0.83 per share for the current fiscal year, with EPS estimates ranging from $0.80 to $0.86. For the next financial year, analysts expect that the firm will report earnings of $0.84 per share, with EPS estimates ranging from $0.83 to $0.84. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Northfield Bancorp.

Northfield Bancorp (NASDAQ:NFBK) last issued its quarterly earnings results on Friday, July 27th. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. Northfield Bancorp had a return on equity of 5.75% and a net margin of 18.48%. The firm had revenue of $30.22 million during the quarter, compared to analyst estimates of $30.37 million.



A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Northfield Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. BidaskClub upgraded Northfield Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 23rd. ValuEngine upgraded Northfield Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, June 18th. Finally, Keefe, Bruyette & Woods restated a “neutral” rating on shares of Northfield Bancorp in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $17.60.

Shares of NFBK stock traded down $0.14 on Friday, reaching $16.20. 44,520 shares of the company’s stock were exchanged, compared to its average volume of 59,986. Northfield Bancorp has a 52 week low of $15.14 and a 52 week high of $18.39. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.08 and a current ratio of 1.09. The firm has a market capitalization 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.

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

In other news, EVP William R. Jacobs sold 2,166 shares of the business’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $16.41, for a total value of $35,544.06. Following the completion of the transaction, the executive vice president now owns 222,877 shares of the company’s stock, valued at approximately $3,657,411.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steven M. Klein sold 4,899 shares of the business’s stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $16.10, for a total value of $78,873.90. Following the completion of the transaction, the chief executive officer now directly owns 344,749 shares of the company’s stock, valued at approximately $5,550,458.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,269 shares of company stock worth $1,882,022. Company insiders own 9.34% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Northfield Bancorp by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,542,428 shares of the bank’s stock valued at $58,875,000 after buying an additional 115,381 shares during the period. Legal & General Group Plc lifted its holdings in shares of Northfield Bancorp by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 91,952 shares of the bank’s stock valued at $1,528,000 after buying an additional 6,203 shares during the period. BlackRock Inc. lifted its holdings in shares of Northfield Bancorp by 7.3% in the 2nd quarter. BlackRock Inc. now owns 6,402,460 shares of the bank’s stock valued at $106,409,000 after buying an additional 436,513 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Northfield Bancorp by 5.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 248,583 shares of the bank’s stock valued at $4,132,000 after buying an additional 13,377 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Northfield Bancorp by 111.1% in the 2nd quarter. SG Americas Securities LLC now owns 17,093 shares of the bank’s stock valued at $284,000 after buying an additional 8,994 shares during the period. 54.82% of the stock is owned by institutional investors and hedge funds.

About Northfield Bancorp

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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