Connor Clark & Lunn Investment Management Ltd. Has $1.27 Million Position in Northfield Bancorp, Inc. $NFBK

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Northfield Bancorp by 32.4% during the 1st quarter, now holding 116,035 shares valued at approximately $1.27 million.
• The firm announced a quarterly dividend of $0.13 per share, which will be paid on August 20th, offering a dividend yield of 4.7%.
• Analysts have mixed views on Northfield Bancorp, with Piper Sandler upgrading the stock to "overweight" while Keefe, Bruyette & Woods lowered its target price from $12.50 to $12.00.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Northfield Bancorp, Inc. (NASDAQ:NFBK - Free Report) by 32.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 116,035 shares of the bank's stock after acquiring an additional 28,387 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.27% of Northfield Bancorp worth $1,266,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of America Corp DE grew its stake in shares of Northfield Bancorp by 0.9% in the fourth quarter. Bank of America Corp DE now owns 110,130 shares of the bank's stock valued at $1,280,000 after acquiring an additional 973 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Northfield Bancorp by 9.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,076 shares of the bank's stock valued at $152,000 after acquiring an additional 1,159 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Northfield Bancorp by 113.7% in the first quarter. GAMMA Investing LLC now owns 3,870 shares of the bank's stock valued at $42,000 after acquiring an additional 2,059 shares in the last quarter. CWM LLC grew its stake in shares of Northfield Bancorp by 9.2% in the first quarter. CWM LLC now owns 31,571 shares of the bank's stock valued at $344,000 after acquiring an additional 2,666 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Northfield Bancorp by 7.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,591 shares of the bank's stock worth $495,000 after purchasing an additional 2,778 shares during the period. 65.51% of the stock is currently owned by institutional investors and hedge funds.

Northfield Bancorp Price Performance

NFBK traded down $0.0290 on Thursday, hitting $11.1510. 18,674 shares of the stock were exchanged, compared to its average volume of 179,211. The firm has a market capitalization of $466.22 million, a price-to-earnings ratio of 12.97 and a beta of 0.84. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.00 and a quick ratio of 1.00. Northfield Bancorp, Inc. has a 12 month low of $9.40 and a 12 month high of $14.39. The business has a 50-day moving average of $11.40 and a two-hundred day moving average of $11.26.

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The bank reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $33.21 million during the quarter, compared to analysts' expectations of $34.25 million. Northfield Bancorp had a net margin of 13.56% and a return on equity of 4.64%. Sell-side analysts forecast that Northfield Bancorp, Inc. will post 0.82 EPS for the current fiscal year.

Northfield Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.7%. Northfield Bancorp's dividend payout ratio is 60.47%.

Analysts Set New Price Targets

NFBK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Northfield Bancorp from $12.50 to $12.00 and set a "market perform" rating for the company in a research report on Tuesday, April 29th. Piper Sandler raised shares of Northfield Bancorp from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $13.00 to $14.00 in a research report on Friday, May 2nd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $13.00.

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 certificates of deposit, passbook, statement, and money market savings accounts; transaction deposit accounts comprising negotiable orders of withdrawal accounts, and interest and non-interest-bearing checking accounts; and brokered deposits.