Northfield Bancorp (NASDAQ:NFBK) Shares Pass Above 200-Day Moving Average – Time to Sell?

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.85 and traded as high as $14.29. Northfield Bancorp shares last traded at $14.06, with a volume of 473,919 shares changing hands.

Analyst Ratings Changes

Several analysts have recently issued reports on NFBK shares. Keefe, Bruyette & Woods upped their price objective on Northfield Bancorp from $12.00 to $14.50 and gave the company a “hold” rating in a research report on Friday, February 6th. New Street Research set a $14.50 price objective on Northfield Bancorp in a research report on Friday, February 6th. Finally, Weiss Ratings upgraded Northfield Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Northfield Bancorp currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Northfield Bancorp Price Performance

The company has a 50-day moving average of $13.91 and a two-hundred day moving average of $12.85. The stock has a market capitalization of $587.15 million, a PE ratio of 117.17 and a beta of 0.72. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.98 and a quick ratio of 0.98.

Northfield Bancorp (NASDAQ:NFBK) last released its earnings results on Tuesday, April 21st. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Northfield Bancorp had a return on equity of 6.75% and a net margin of 1.77%.The firm had revenue of $40.38 million for the quarter, compared to the consensus estimate of $40.60 million.

Northfield Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, May 6th. This represents a $0.52 annualized dividend and a yield of 3.7%. Northfield Bancorp’s dividend payout ratio is 433.33%.

Insider Activity

In other Northfield Bancorp news, EVP David Fasanella bought 7,500 shares of Northfield Bancorp stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average cost of $13.07 per share, for a total transaction of $98,025.00. Following the completion of the transaction, the executive vice president owned 11,500 shares of the company’s stock, valued at $150,305. This represents a 187.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Stahlin bought 10,000 shares of Northfield Bancorp stock in a transaction that occurred on Tuesday, March 17th. The shares were acquired at an average price of $13.19 per share, for a total transaction of $131,900.00. Following the completion of the transaction, the director directly owned 54,354 shares of the company’s stock, valued at $716,929.26. This trade represents a 22.55% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 5.95% of the company’s stock.

Hedge Funds Weigh In On Northfield Bancorp

Several large investors have recently added to or reduced their stakes in NFBK. M3F Inc. purchased a new position in Northfield Bancorp during the first quarter worth about $10,516,000. Hillsdale Investment Management Inc. increased its stake in Northfield Bancorp by 156.8% during the third quarter. Hillsdale Investment Management Inc. now owns 532,920 shares of the bank’s stock worth $6,288,000 after acquiring an additional 325,400 shares during the last quarter. Renaissance Technologies LLC increased its stake in Northfield Bancorp by 21.7% during the first quarter. Renaissance Technologies LLC now owns 1,308,449 shares of the bank’s stock worth $17,716,000 after acquiring an additional 233,300 shares during the last quarter. Bank of America Corp DE increased its stake in Northfield Bancorp by 181.9% during the third quarter. Bank of America Corp DE now owns 296,137 shares of the bank’s stock worth $3,494,000 after acquiring an additional 191,079 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in Northfield Bancorp by 99.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 218,707 shares of the bank’s stock worth $2,500,000 after acquiring an additional 109,012 shares during the last quarter. 65.51% of the stock is currently owned by hedge funds and other 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.