Vanguard Group Inc. Boosts Holdings in Northfield Bancorp, Inc. $NFBK

Key Points

• Vanguard Group Inc. has increased its stake in Northfield Bancorp by 3.7%, owning approximately 2.36 million shares valued at over $25 million.
• Analysts from Piper Sandler have upgraded Northfield Bancorp's stock rating from "neutral" to "overweight," raising the price target from $13.00 to $14.00, indicating a positive outlook for the company's performance.
• Northfield Bancorp recently paid a quarterly dividend of $0.13, representing an annualized yield of 4.4%, with a dividend payout ratio of 60.47%.

Vanguard Group Inc. increased its stake in shares of Northfield Bancorp, Inc. (NASDAQ:NFBK - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,356,797 shares of the bank's stock after purchasing an additional 84,883 shares during the period. Vanguard Group Inc. owned 5.52% of Northfield Bancorp worth $25,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Northfield Bancorp by 113.7% in the 1st quarter. GAMMA Investing LLC now owns 3,870 shares of the bank's stock worth $42,000 after purchasing an additional 2,059 shares in the last quarter. Quarry LP lifted its position in Northfield Bancorp by 193.1% during the fourth quarter. Quarry LP now owns 6,981 shares of the bank's stock worth $81,000 after buying an additional 4,599 shares in the last quarter. ProShare Advisors LLC acquired a new position in Northfield Bancorp during the fourth quarter worth $125,000. TIAA Trust National Association acquired a new position in Northfield Bancorp during the first quarter worth $141,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Northfield Bancorp by 9.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,076 shares of the bank's stock valued at $152,000 after buying an additional 1,159 shares in the last quarter. 65.51% of the stock is owned by hedge funds and other institutional investors.

Northfield Bancorp Trading Down 0.7%

Shares of NFBK traded down $0.08 during midday trading on Tuesday, reaching $11.77. The company had a trading volume of 47,974 shares, compared to its average volume of 179,038. Northfield Bancorp, Inc. has a 1-year low of $9.40 and a 1-year high of $14.39. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.26. The firm has a 50 day simple moving average of $11.40 and a 200-day simple moving average of $11.24. The stock has a market cap of $492.19 million, a PE ratio of 13.69 and a beta of 0.87.

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Research analysts forecast that Northfield Bancorp, Inc. will post 0.82 EPS for the current fiscal year.

Northfield Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were issued a $0.13 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $0.52 dividend on an annualized basis and a yield of 4.4%. Northfield Bancorp's dividend payout ratio is currently 60.47%.

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.