JPMorgan Chase & Co. Decreases Holdings in Northfield Bancorp, Inc. $NFBK

Key Points

• JPMorgan Chase cut its stake in Northfield Bancorp by 51.7% in Q3, selling 113,905 shares and leaving it with 106,467 shares worth roughly $1.26 million (about 0.25% of the company).
• Insiders bought shares recently — Director Paul Stahlin purchased 10,000 shares at $13.19 and EVP David Fasanella bought 7,500 shares at $13.07 — and insiders now own about 5.95% of the stock.
• Northfield reported an earnings beat (EPS $0.34 vs. $0.28) and revenue of $78.01M (vs. $39.48M expected), pays a $0.13 quarterly dividend (≈3.7% yield), and carries a consensus Hold rating with an average target of $14.33 while trading near its 52‑week high (~$14.09).

JPMorgan Chase & Co. reduced its position in Northfield Bancorp, Inc. (NASDAQ:NFBK - Free Report) by 51.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,467 shares of the bank's stock after selling 113,905 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.25% of Northfield Bancorp worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of Northfield Bancorp by 1,195.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,447 shares of the bank's stock worth $41,000 after purchasing an additional 3,181 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in shares of Northfield Bancorp in the 3rd quarter valued at $77,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Northfield Bancorp in the 3rd quarter valued at $143,000. Lazard Asset Management LLC purchased a new stake in shares of Northfield Bancorp in the 2nd quarter valued at $146,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Northfield Bancorp in the 3rd quarter valued at $167,000. 65.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NFBK has been the subject of a number of research reports. New Street Research set a $14.50 price objective on shares of Northfield Bancorp in a research note on Friday, February 6th. Weiss Ratings lowered Northfield Bancorp from a "hold (c)" rating to a "sell (d+)" rating in a research report on Wednesday, March 4th. Finally, Keefe, Bruyette & Woods raised their price target on Northfield Bancorp from $12.00 to $14.50 and gave the stock a "hold" rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $14.33.

Northfield Bancorp Trading Up 0.7%

NASDAQ NFBK opened at $14.09 on Friday. Northfield Bancorp, Inc. has a fifty-two week low of $9.40 and a fifty-two week high of $14.11. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50 day simple moving average of $13.45 and a two-hundred day simple moving average of $12.04. The stock has a market cap of $588.40 million, a P/E ratio of 1,409.00 and a beta of 0.75.

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.06. Northfield Bancorp had a return on equity of 5.91% and a net margin of 0.30%.The business had revenue of $78.01 million during the quarter, compared to analysts' expectations of $39.48 million. On average, analysts forecast that Northfield Bancorp, Inc. will post 0.82 earnings per share for the current year.

Northfield Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Thursday, February 12th were issued a $0.13 dividend. The ex-dividend date was Thursday, February 12th. This represents a $0.52 annualized dividend and a yield of 3.7%. Northfield Bancorp's dividend payout ratio (DPR) is 5,200.00%.

Insider Activity

In related news, Director Paul Stahlin bought 10,000 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average cost of $13.19 per share, with a total value of $131,900.00. Following the transaction, the director owned 54,354 shares in the company, valued at approximately $716,929.26. This trade represents a 22.55% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Fasanella bought 7,500 shares of the company's stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of $13.07 per share, with a total value of $98,025.00. Following the completion of the transaction, the executive vice president owned 11,500 shares in the company, valued at approximately $150,305. This trade represents a 187.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 5.95% of the company's stock.

Northfield Bancorp Profile

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.

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