M3F Inc. Purchases New Holdings in Northfield Bancorp, Inc. $NFBK

M3F Inc. purchased a new position in shares of Northfield Bancorp, Inc. (NASDAQ:NFBK) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 776,630 shares of the bank’s stock, valued at approximately $10,516,000. Northfield Bancorp accounts for approximately 2.6% of M3F Inc.’s portfolio, making the stock its 11th biggest holding. M3F Inc. owned approximately 1.86% of Northfield Bancorp as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of NFBK. Signaturefd LLC grew its stake in Northfield Bancorp by 41.6% in the 4th quarter. Signaturefd LLC now owns 3,019 shares of the bank’s stock valued at $35,000 after purchasing an additional 887 shares during the period. Russell Investments Group Ltd. increased its holdings in Northfield Bancorp by 1,195.9% during the third quarter. Russell Investments Group Ltd. now owns 3,447 shares of the bank’s stock worth $41,000 after buying an additional 3,181 shares during the last quarter. Quadrant Capital Group LLC purchased a new stake in Northfield Bancorp during the third quarter worth about $77,000. Cornerstone Planning Group LLC raised its position in Northfield Bancorp by 30,922.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 9,617 shares of the bank’s stock worth $114,000 after acquiring an additional 9,586 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Northfield Bancorp in the fourth quarter worth about $125,000. 65.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NFBK has been the subject of a number of research reports. Weiss Ratings downgraded shares of Northfield Bancorp from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Wall Street Zen raised shares of Northfield Bancorp to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.50.

Northfield Bancorp Stock Performance

Shares of Northfield Bancorp stock opened at $14.79 on Monday. Northfield Bancorp, Inc. has a 52-week low of $9.90 and a 52-week high of $15.01. The stock’s 50-day simple moving average is $14.30 and its 200 day simple moving average is $13.39. The stock has a market capitalization of $617.63 million, a P/E ratio of 123.25 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.98 and a current ratio of 0.98.

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

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.