Zacks Investment Research Upgrades Northfield Bancorp (NFBK) to “Buy”
Zacks Investment Research upgraded shares of Northfield Bancorp (NASDAQ:NFBK) from a hold rating to a buy rating in a research report released on Thursday morning. The firm currently has $18.00 target price 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 research analysts also recently issued reports on the company. BidaskClub downgraded Northfield Bancorp from a sell rating to a strong sell rating in a research note on Friday, January 26th. Piper Jaffray Companies reaffirmed a hold rating and set a $18.00 price target on shares of Northfield Bancorp in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $20.00 price target on shares of Northfield Bancorp in a research report on Friday, December 22nd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has a consensus rating of Hold and a consensus price target of $18.25.
Northfield Bancorp (NASDAQ:NFBK) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $30.40 million during the quarter, compared to the consensus estimate of $30.67 million. Northfield Bancorp had a return on equity of 5.03% and a net margin of 17.14%. During the same quarter in the prior year, the company earned $0.18 EPS. equities research analysts expect that Northfield Bancorp will post 0.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be given 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 2.53%. Northfield Bancorp’s dividend payout ratio is presently 76.92%.
In other news, EVP Robin Lefkowitz sold 2,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $17.00, for a total transaction of $34,000.00. Following the transaction, the executive vice president now owns 30,433 shares of the company’s stock, valued at approximately $517,361. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gil Chapman sold 12,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $16.74, for a total value of $200,880.00. Following the transaction, the director now directly owns 104,415 shares in the company, valued at approximately $1,747,907.10. 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 ninety days. Insiders own 9.34% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Northfield Bancorp by 0.5% during the 2nd quarter. BlackRock Inc. now owns 5,519,013 shares of the bank’s stock valued at $94,653,000 after buying an additional 24,921 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Northfield Bancorp by 6.4% during the 2nd quarter. California Public Employees Retirement System now owns 120,400 shares of the bank’s stock worth $2,065,000 after purchasing an additional 7,200 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Northfield Bancorp by 23.9% during the 2nd quarter. Wells Fargo & Company MN now owns 43,740 shares of the bank’s stock worth $750,000 after purchasing an additional 8,443 shares in the last quarter. Northern Trust Corp lifted its holdings in Northfield Bancorp by 4.5% during the 2nd quarter. Northern Trust Corp now owns 589,775 shares of the bank’s stock worth $10,115,000 after purchasing an additional 25,169 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Northfield Bancorp by 5.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 218,091 shares of the bank’s stock worth $3,784,000 after purchasing an additional 11,577 shares in the last quarter. 52.97% of the stock is currently owned by hedge funds and other institutional investors.
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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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