Tudor Investment Corp ET AL Buys New Position in Northfield Bancorp, Inc. $NFBK

Key Points

• Tudor Investment opened a new position in Northfield Bancorp of 99,771 shares (~$1.18M), and institutional ownership stands at about 65.51% with other firms (Hillsdale, Arrowstreet) materially increasing stakes.
• Company insiders are buying: Director Paul Stahlin bought 10,000 shares and EVP David Fasanella bought 7,500 shares, bringing insider ownership to roughly 6.48%.
• Northfield recently beat quarterly EPS estimates ($0.34 vs. $0.28), pays a quarterly dividend of $0.13 (annualized yield ~3.9%), and has a MarketBeat consensus rating of Hold with a $14.33 target.

Tudor Investment Corp ET AL purchased a new position in shares of Northfield Bancorp, Inc. (NASDAQ:NFBK - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 99,771 shares of the bank's stock, valued at approximately $1,177,000. Tudor Investment Corp ET AL owned approximately 0.24% of Northfield Bancorp at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in shares of Northfield Bancorp during the third quarter valued at approximately $1,941,000. Hillsdale Investment Management Inc. lifted its position in Northfield Bancorp by 156.8% in the third quarter. Hillsdale Investment Management Inc. now owns 532,920 shares of the bank's stock worth $6,288,000 after purchasing an additional 325,400 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Northfield Bancorp by 94.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 597,877 shares of the bank's stock valued at $6,864,000 after purchasing an additional 290,030 shares in the last quarter. Endeavour Capital Advisors Inc. boosted its stake in Northfield Bancorp by 64.4% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 41,940 shares of the bank's stock valued at $481,000 after purchasing an additional 16,436 shares in the last quarter. Finally, Engineers Gate Manager LP increased its position in shares of Northfield Bancorp by 10.0% during the 2nd quarter. Engineers Gate Manager LP now owns 21,657 shares of the bank's stock valued at $249,000 after purchasing an additional 1,962 shares during the period. 65.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northfield Bancorp

In related news, Director Paul Stahlin acquired 10,000 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were purchased at an average price of $13.19 per share, for a total transaction of $131,900.00. Following the acquisition, the director owned 54,354 shares in the company, valued at approximately $716,929.26. This represents a 22.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Fasanella acquired 7,500 shares of Northfield Bancorp stock in a transaction on Thursday, March 19th. The shares were purchased at an average cost of $13.07 per share, with a total value of $98,025.00. Following the completion of the purchase, the executive vice president directly owned 11,500 shares of the company's stock, valued at approximately $150,305. This represents a 187.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 6.48% of the company's stock.

Northfield Bancorp Stock Performance

Shares of NASDAQ:NFBK opened at $13.38 on Monday. 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 market capitalization of $558.75 million, a price-to-earnings ratio of 1,338.00 and a beta of 0.81. Northfield Bancorp, Inc. has a 1-year low of $9.40 and a 1-year high of $14.05. The company has a 50 day moving average price of $13.15 and a 200 day moving average price of $11.92.

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The bank reported $0.34 earnings per share (EPS) for the quarter, beating 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 company had revenue of $78.01 million for the quarter, compared to analysts' expectations of $39.48 million. On average, research analysts anticipate that Northfield Bancorp, Inc. will post 0.82 EPS for the current fiscal year.

Northfield Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Thursday, February 12th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, February 12th. Northfield Bancorp's dividend payout ratio is currently 5,200.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NFBK shares. New Street Research set a $14.50 price objective on Northfield Bancorp in a research note on Friday, February 6th. Weiss Ratings cut Northfield Bancorp from a "hold (c)" rating to a "sell (d+)" rating in a research note on Wednesday, March 4th. Finally, Keefe, Bruyette & Woods lifted their target price on Northfield Bancorp from $12.00 to $14.50 and gave the stock a "hold" rating in a report on Friday, February 6th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $14.33.

Northfield Bancorp Company 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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