Northfield Bancorp (NASDAQ:NFBK) Lifted to “Hold” at BidaskClub

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BidaskClub upgraded shares of Northfield Bancorp (NASDAQ:NFBK) from a sell rating to a hold rating in a research note released on Saturday, BidAskClub reports.

NFBK has been the subject of a number of other reports. Zacks Investment Research reaffirmed a hold rating on shares of Western New England Bancorp in a report on Saturday, June 29th. TheStreet cut Trade Desk from a b- rating to a c- rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has a consensus rating of Hold and an average price target of $18.00.

Shares of NFBK opened at $15.57 on Friday. The company has a 50 day simple moving average of $15.35. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $784.00 million, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56. Northfield Bancorp has a 52-week low of $12.76 and a 52-week high of $17.13.

Northfield Bancorp (NASDAQ:NFBK) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19. The firm had revenue of $30.64 million during the quarter, compared to the consensus estimate of $30.24 million. Northfield Bancorp had a return on equity of 5.30% and a net margin of 23.84%. On average, equities research analysts predict that Northfield Bancorp will post 0.75 EPS for the current fiscal year.

In other Northfield Bancorp news, EVP Robin Lefkowitz sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $15.20, for a total value of $30,400.00. Following the completion of the sale, the executive vice president now owns 20,240 shares in the company, valued at $307,648. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gil Chapman sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $14.80, for a total value of $44,400.00. Following the completion of the sale, the director now owns 54,397 shares of the company’s stock, valued at approximately $805,075.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,375 shares of company stock valued at $566,248. 8.60% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in NFBK. Oregon Public Employees Retirement Fund purchased a new stake in Northfield Bancorp in the 4th quarter worth approximately $243,000. California Public Employees Retirement System lifted its stake in Northfield Bancorp by 1.1% in the 4th quarter. California Public Employees Retirement System now owns 149,892 shares of the bank’s stock worth $2,031,000 after purchasing an additional 1,571 shares in the last quarter. BlackRock Inc. lifted its stake in Northfield Bancorp by 2.8% in the 4th quarter. BlackRock Inc. now owns 6,854,569 shares of the bank’s stock worth $92,879,000 after purchasing an additional 187,170 shares in the last quarter. Texas Permanent School Fund lifted its stake in Northfield Bancorp by 4.1% in the 4th quarter. Texas Permanent School Fund now owns 30,799 shares of the bank’s stock worth $417,000 after purchasing an additional 1,215 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Northfield Bancorp by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,728,431 shares of the bank’s stock worth $50,520,000 after purchasing an additional 97,482 shares in the last quarter. Institutional investors and hedge funds own 57.54% of the company’s stock.

Northfield Bancorp Company Profile

Northfield Bancorp, Inc (Staten Island, NY) operates as the bank holding company for Northfield Bank that provides various banking products and services primarily to individuals and corporate customers. It accepts various deposits products, including transaction accounts comprising negotiable orders of withdrawal accounts and non-interest bearing checking accounts; savings accounts, such as money market, passbook, and statement savings; certificates of deposit consisting of individual retirement accounts; and brokered deposits.

Read More: Compound Annual Growth Rate (CAGR)

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