Zacks: Northfield Bancorp Inc. (NASDAQ:NFBK) Given Average Recommendation of “Hold” by Brokerages
Northfield Bancorp Inc. (NASDAQ:NFBK) has been assigned an average broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Brokers have set a 1 year consensus price target of $15.50 for the company and are anticipating that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also given Northfield Bancorp an industry rank of 165 out of 265 based on the ratings given to its competitors.
Separately, Hovde Group assumed coverage on shares of Northfield Bancorp in a research report on Friday, August 12th. They issued a “market perform” rating and a $16.00 target price for the company.
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Shares of Northfield Bancorp (NASDAQ:NFBK) traded down 1.06% during midday trading on Friday, hitting $15.87. The company’s stock had a trading volume of 8,302 shares. The stock’s 50 day moving average is $15.94 and its 200-day moving average is $15.62. The firm has a market cap of $703.83 million, a P/E ratio of 33.77 and a beta of 0.26. Northfield Bancorp has a 52-week low of $14.31 and a 52-week high of $16.68.
Northfield Bancorp (NASDAQ:NFBK) last announced its earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Northfield Bancorp had a net margin of 17.13% and a return on equity of 3.89%. The company earned $25.64 million during the quarter, compared to analyst estimates of $24.90 million. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. Equities analysts predict that Northfield Bancorp will post $0.55 EPS for the current fiscal year.
In other Northfield Bancorp news, Director Patrick E. Scura, Jr. sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $15.88, for a total transaction of $39,700.00. Following the completion of the sale, the director now directly owns 81,846 shares in the company, valued at $1,299,714.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 10.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NFBK. Vanguard Group Inc. raised its stake in Northfield Bancorp by 4.6% in the second quarter. Vanguard Group Inc. now owns 3,310,882 shares of the company’s stock valued at $49,100,000 after buying an additional 144,301 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Northfield Bancorp by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,744,673 shares of the company’s stock valued at $40,703,000 after buying an additional 7,884 shares during the period. Renaissance Technologies LLC increased its position in shares of Northfield Bancorp by 4.7% in the first quarter. Renaissance Technologies LLC now owns 1,832,368 shares of the company’s stock valued at $30,124,000 after buying an additional 82,100 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of Northfield Bancorp by 15.7% in the second quarter. Parametric Portfolio Associates LLC now owns 419,685 shares of the company’s stock valued at $6,224,000 after buying an additional 57,010 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Northfield Bancorp during the second quarter valued at approximately $5,209,000. Institutional investors and hedge funds own 49.92% of the company’s stock.
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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