Northfield Bancorp (NASDAQ:NFBK) Share Price Passes Above 200 Day Moving Average – Here’s Why

Northfield Bancorp, Inc. (NASDAQ:NFBK) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.32 and traded as high as $12.35. Northfield Bancorp shares last traded at $12.32, with a volume of 175,499 shares.

Analysts Set New Price Targets

NFBK has been the topic of several research reports. Keefe, Bruyette & Woods reduced their price target on Northfield Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Northfield Bancorp in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Northfield Bancorp currently has an average rating of “Hold” and a consensus target price of $13.00.

Northfield Bancorp Trading Up 1.4%

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.31. The company has a market cap of $514.98 million, a price-to-earnings ratio of 12.70 and a beta of 0.84. The firm has a 50 day moving average price of $11.66 and a two-hundred day moving average price of $11.32.

Institutional Investors Weigh In On Northfield Bancorp

A number of institutional investors have recently modified their holdings of NFBK. Los Angeles Capital Management LLC acquired a new position in Northfield Bancorp in the second quarter valued at approximately $1,430,000. Assenagon Asset Management S.A. acquired a new position in shares of Northfield Bancorp during the 3rd quarter valued at $1,941,000. KLP Kapitalforvaltning AS lifted its position in shares of Northfield Bancorp by 301.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 36,900 shares of the bank’s stock valued at $424,000 after acquiring an additional 27,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Northfield Bancorp by 8.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,990 shares of the bank’s stock worth $1,446,000 after purchasing an additional 9,955 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Northfield Bancorp by 94.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 597,877 shares of the bank’s stock worth $6,864,000 after purchasing an additional 290,030 shares during the period. 65.51% of the stock is owned by institutional investors.

About Northfield Bancorp

Northfield Bancorp is the bank holding company for Northfield Bank, a New Jersey‐based community bank offering a full range of financial products and services. Headquartered in New Jersey, the company serves individuals, families and small to mid‐sized businesses across Northern and Central New Jersey. Northfield Bancorp focuses on building lasting customer relationships through a combination of personalized service and technology‐driven solutions.

Through its subsidiary, Northfield Bank provides personal banking services such as checking and savings accounts, consumer loans, mortgage products and home equity lines of credit.