Northfield Bancorp (NFBK) Raised to “B-” at TheStreet

TheStreet upgraded shares of Northfield Bancorp (NASDAQ:NFBK) from a c+ rating to a b- rating in a report issued on Thursday morning, TheStreetRatingsTable reports.

A number of other research analysts have also commented on the company. BidaskClub upgraded Northfield Bancorp from a sell rating to a hold rating in a research note on Wednesday, February 20th. Zacks Investment Research lowered Northfield Bancorp from a hold rating to a sell rating in a research note on Wednesday, February 6th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Northfield Bancorp presently has an average rating of Hold and a consensus target price of $18.00.

Shares of NFBK stock opened at $15.29 on Thursday. Northfield Bancorp has a 12 month low of $12.76 and a 12 month high of $17.33. The company has a market cap of $757.55 million, a PE ratio of 20.12, a price-to-earnings-growth ratio of 2.54 and a beta of 0.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.98 and a quick ratio of 1.00.

Northfield Bancorp (NASDAQ:NFBK) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Northfield Bancorp had a return on equity of 5.30% and a net margin of 23.84%. The company had revenue of $30.64 million during the quarter, compared to analyst estimates of $30.24 million. Equities analysts anticipate that Northfield Bancorp will post 0.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.88%. This is a positive change from Northfield Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, May 7th. Northfield Bancorp’s dividend payout ratio is presently 57.89%.

In related news, EVP Robin Lefkowitz sold 5,000 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $14.60, for a total value of $73,000.00. Following the completion of the transaction, the executive vice president now directly owns 24,740 shares in the company, valued at $361,204. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth J. Doherty sold 10,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $14.56, for a total value of $145,600.00. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NFBK. BlackRock Inc. raised its stake in Northfield Bancorp by 2.8% during the fourth quarter. BlackRock Inc. now owns 6,854,569 shares of the bank’s stock worth $92,879,000 after acquiring an additional 187,170 shares in the last quarter. Vanguard Group Inc raised its stake in Northfield Bancorp by 3.2% during the third quarter. Vanguard Group Inc now owns 4,538,643 shares of the bank’s stock worth $72,254,000 after acquiring an additional 139,919 shares in the last quarter. Vanguard Group Inc. raised its stake in Northfield Bancorp by 3.2% during the third quarter. Vanguard Group Inc. now owns 4,538,643 shares of the bank’s stock worth $72,254,000 after acquiring an additional 139,919 shares in the last quarter. M3F Inc. acquired a new position in Northfield Bancorp during the fourth quarter worth $1,885,000. Finally, Dimensional Fund Advisors LP raised its stake in Northfield Bancorp by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,728,431 shares of the bank’s stock worth $50,520,000 after acquiring an additional 97,482 shares in the last quarter. Institutional investors and hedge funds own 57.04% of the company’s stock.

About Northfield Bancorp

Northfield Bancorp, Inc (Staten Island, NY) 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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