Northfield Bancorp (NFBK) Downgraded by Zacks Investment Research

Northfield Bancorp (NASDAQ:NFBK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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. “

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $20.00 target price on shares of Northfield Bancorp in a research report on Friday, December 22nd. BidaskClub downgraded shares of Northfield Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Finally, Piper Jaffray Companies reissued a “hold” rating on shares of Northfield Bancorp in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $18.25.

Northfield Bancorp (NFBK) opened at $15.36 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.11 and a quick ratio of 1.17. Northfield Bancorp has a 12-month low of $15.27 and a 12-month high of $19.25. The stock has a market cap of $765.73, a P/E ratio of 29.54, a PEG ratio of 2.67 and a beta of 0.29.

Northfield Bancorp (NASDAQ:NFBK) last released its earnings results on Wednesday, January 24th. The bank reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $30.40 million for the quarter, compared to the consensus estimate of $30.67 million. Northfield Bancorp had a net margin of 17.14% and a return on equity of 5.03%. During the same quarter in the previous year, the firm earned $0.18 EPS. research analysts forecast that Northfield Bancorp will post 0.74 earnings per share for the current year.

In other Northfield Bancorp news, Director Gil Chapman sold 16,102 shares of Northfield Bancorp stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $16.73, for a total transaction of $269,386.46. Following the completion of the sale, the director now directly owns 104,415 shares in the company, valued at approximately $1,746,862.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robin Lefkowitz sold 2,000 shares of Northfield Bancorp stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $17.00, for a total transaction of $34,000.00. Following the sale, the executive vice president now owns 30,433 shares of the company’s stock, valued at $517,361. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,602 shares of company stock valued at $632,216. Company insiders own 9.34% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its stake in Northfield Bancorp by 23.2% during the 4th quarter. Wells Fargo & Company MN now owns 76,328 shares of the bank’s stock valued at $1,304,000 after acquiring an additional 14,392 shares during the period. California Public Employees Retirement System lifted its stake in Northfield Bancorp by 7.4% during the 4th quarter. California Public Employees Retirement System now owns 141,427 shares of the bank’s stock valued at $2,416,000 after acquiring an additional 9,728 shares during the period. Teacher Retirement System of Texas acquired a new stake in Northfield Bancorp during the 4th quarter valued at approximately $260,000. Mutual of America Capital Management LLC lifted its stake in Northfield Bancorp by 12.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 383,793 shares of the bank’s stock valued at $6,555,000 after acquiring an additional 43,437 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Northfield Bancorp by 4.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 227,865 shares of the bank’s stock valued at $3,892,000 after purchasing an additional 9,774 shares during the period. Institutional investors and hedge funds own 52.97% of the company’s stock.

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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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