Northfield Bancorp (NASDAQ:NFBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $19.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.77% from the company’s previous close.
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 firms have also recently commented on NFBK. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $20.00 price target on shares of Northfield Bancorp in a report on Friday, December 22nd. BidaskClub cut Northfield Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $18.00 price objective on shares of Northfield Bancorp in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $18.13.
Northfield Bancorp (NASDAQ:NFBK) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Northfield Bancorp had a return on equity of 5.03% and a net margin of 17.14%. The business had revenue of $30.40 million during the quarter, compared to analysts’ expectations of $30.67 million. During the same quarter last year, the company posted $0.18 earnings per share. analysts forecast that Northfield Bancorp will post 0.81 EPS for the current fiscal year.
In other news, Director Patrick E. Scura, Jr. sold 53,905 shares of Northfield Bancorp stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $15.68, for a total value of $845,230.40. Following the completion of the sale, the director now directly owns 80,043 shares in the company, valued at $1,255,074.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Steven M. Klein sold 7,500 shares of Northfield Bancorp stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $17.06, for a total transaction of $127,950.00. Following the completion of the sale, the chief executive officer now owns 336,400 shares of the company’s stock, valued at $5,738,984. The disclosure for this sale can be found here. Over the last quarter, insiders sold 151,763 shares of company stock valued at $2,425,744. 9.34% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of Northfield Bancorp by 4.4% in the third quarter. Legal & General Group Plc now owns 83,956 shares of the bank’s stock valued at $1,457,000 after buying an additional 3,561 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Northfield Bancorp by 1.2% in the third quarter. Principal Financial Group Inc. now owns 373,742 shares of the bank’s stock valued at $6,484,000 after buying an additional 4,426 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Northfield Bancorp by 64.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,470 shares of the bank’s stock valued at $303,000 after buying an additional 6,820 shares in the last quarter. Rhumbline Advisers raised its position in Northfield Bancorp by 6.5% during the third quarter. Rhumbline Advisers now owns 118,969 shares of the bank’s stock valued at $2,064,000 after purchasing an additional 7,300 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Northfield Bancorp by 54.6% during the third quarter. BNP Paribas Arbitrage SA now owns 24,314 shares of the bank’s stock valued at $422,000 after purchasing an additional 8,591 shares in the last quarter. Institutional investors own 53.35% 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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