Northfield Bancorp Inc (NASDAQ:NFBK) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 1,272,000 shares, an increase of 5.6% from the July 31st total of 1,204,900 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average daily trading volume, of 92,900 shares, the days-to-cover ratio is presently 13.7 days.
Shares of Northfield Bancorp stock traded down $0.06 on Friday, hitting $16.04. 265,056 shares of the company’s stock traded hands, compared to its average volume of 118,426. The firm’s 50-day moving average price is $15.59 and its two-hundred day moving average price is $15.09. The stock has a market capitalization of $792.99 million, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.61 and a beta of 0.54. Northfield Bancorp has a one year low of $12.76 and a one year high of $16.31. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.99 and a quick ratio of 0.99.
Northfield Bancorp (NASDAQ:NFBK) last issued its earnings results on Wednesday, July 24th. The bank reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). Northfield Bancorp had a net margin of 21.75% and a return on equity of 4.88%. The business had revenue of $29.73 million for the quarter, compared to the consensus estimate of $29.96 million. On average, analysts forecast that Northfield Bancorp will post 0.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Tuesday, August 6th. Northfield Bancorp’s dividend payout ratio is currently 57.89%.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Northfield Bancorp from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday, July 30th. BidaskClub upgraded shares of Northfield Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th.
In other Northfield Bancorp news, Director Frank P. Patafio sold 4,500 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $15.22, for a total transaction of $68,490.00. Following the completion of the sale, the director now owns 187,774 shares in the company, valued at approximately $2,857,920.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael J. Widmer sold 20,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $16.03, for a total transaction of $320,600.00. Following the sale, the executive vice president now owns 78,533 shares of the company’s stock, valued at approximately $1,258,883.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,040 shares of company stock worth $2,019,508. Company insiders own 8.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of Northfield Bancorp by 33.1% in the 2nd quarter. Royal Bank of Canada now owns 2,662 shares of the bank’s stock valued at $41,000 after buying an additional 662 shares in the last quarter. Comerica Bank increased its position in shares of Northfield Bancorp by 2.7% in the 1st quarter. Comerica Bank now owns 46,453 shares of the bank’s stock valued at $674,000 after buying an additional 1,235 shares in the last quarter. Texas Permanent School Fund increased its position in shares of Northfield Bancorp by 4.2% in the 1st quarter. Texas Permanent School Fund now owns 32,106 shares of the bank’s stock valued at $446,000 after buying an additional 1,307 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Northfield Bancorp by 3.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 40,216 shares of the bank’s stock valued at $628,000 after buying an additional 1,354 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Northfield Bancorp by 9.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 21,690 shares of the bank’s stock valued at $339,000 after buying an additional 1,850 shares in the last quarter. Institutional investors and hedge funds own 57.90% of the company’s stock.
About Northfield Bancorp
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.
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