Zacks: Brokerages Set $17.00 Price Target for Northfield Bancorp, Inc. (NFBK)
Shares of Northfield Bancorp, Inc. (NASDAQ:NFBK) have been given an average broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.
Analysts have set a 12 month consensus target price of $17.00 for the company and are predicting that the company will post $0.17 EPS for the current quarter, according to Zacks. Zacks has also given Northfield Bancorp an industry rank of 96 out of 265 based on the ratings given to related companies.
A number of analysts have weighed in on NFBK shares. Piper Jaffray Companies reiterated a “hold” rating on shares of Northfield Bancorp in a report on Friday, November 10th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $17.00 target price on shares of Northfield Bancorp in a research note on Tuesday, October 3rd. Finally, DA Davidson initiated coverage on Northfield Bancorp in a research note on Friday, September 1st. They issued a “neutral” rating and a $17.00 target price for the company.
Northfield Bancorp (NASDAQ:NFBK) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. Northfield Bancorp had a return on equity of 4.97% and a net margin of 24.39%. The firm had revenue of $29.97 million during the quarter, compared to the consensus estimate of $29.66 million. analysts forecast that Northfield Bancorp will post 0.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were paid a $0.10 dividend. The ex-dividend date was Tuesday, November 7th. This is an increase from Northfield Bancorp’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 2.31%. Northfield Bancorp’s dividend payout ratio (DPR) is currently 54.05%.
In other news, EVP Robin Lefkowitz sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $17.00, for a total value of $34,000.00. Following the completion of the sale, the executive vice president now directly owns 30,433 shares in the company, valued at approximately $517,361. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.34% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Northfield Bancorp by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,194,954 shares of the bank’s stock valued at $54,794,000 after purchasing an additional 108,637 shares during the last quarter. Vanguard Group Inc. boosted its stake in Northfield Bancorp by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,919,386 shares of the bank’s stock valued at $67,218,000 after purchasing an additional 72,692 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Northfield Bancorp by 3.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,964,618 shares of the bank’s stock valued at $33,693,000 after purchasing an additional 61,350 shares during the last quarter. State Street Corp boosted its stake in Northfield Bancorp by 3.1% during the 2nd quarter. State Street Corp now owns 1,193,509 shares of the bank’s stock valued at $20,467,000 after purchasing an additional 36,329 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in Northfield Bancorp by 20.8% during the 3rd quarter. Citadel Advisors LLC now owns 170,021 shares of the bank’s stock valued at $2,950,000 after purchasing an additional 29,266 shares during the last quarter. Institutional investors own 53.10% of the company’s stock.
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About Northfield Bancorp
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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