Insider Buying: Northfield Bancorp (NASDAQ:NFBK) EVP Acquires 7,500 Shares of Stock

Key Points

• EVP David Fasanella purchased 7,500 shares on March 19 at $13.07 each for $98,025, increasing his holdings to 11,500 shares—a 187.5% boost to his stake.
• Northfield Bancorp trades around $13.22 with a market cap of about $552M, a 3.9% dividend yield (quarterly $0.13), and recently beat Q results (EPS $0.34 vs. $0.28); analysts are mixed with a consensus "Hold" and a $14.33 price target.

Northfield Bancorp, Inc. (NASDAQ:NFBK - Get Free Report) EVP David Fasanella purchased 7,500 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average cost of $13.07 per share, for a total transaction of $98,025.00. Following the completion of the transaction, the executive vice president owned 11,500 shares of the company's stock, valued at $150,305. This trade represents a 187.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Northfield Bancorp Stock Performance

NASDAQ NFBK traded down $0.11 during trading on Friday, reaching $13.22. The company's stock had a trading volume of 204,027 shares, compared to its average volume of 330,936. The firm has a 50 day moving average price of $12.94 and a 200 day moving average price of $11.85. Northfield Bancorp, Inc. has a 12 month low of $9.40 and a 12 month high of $14.05. The firm has a market capitalization of $551.86 million, a price-to-earnings ratio of 1,321.50 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.39.

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The bank reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.06. The company had revenue of $78.01 million during the quarter, compared to the consensus estimate of $39.48 million. Northfield Bancorp had a net margin of 0.30% and a return on equity of 5.91%. As a group, equities analysts anticipate 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, February 25th. Stockholders of record on Thursday, February 12th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Thursday, February 12th. Northfield Bancorp's dividend payout ratio is presently 5,200.00%.

Analyst Ratings Changes

A number of brokerages recently commented on NFBK. 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. Weiss Ratings cut shares of Northfield Bancorp from a "hold (c)" rating to a "sell (d+)" rating in a research report on Wednesday, March 4th. Finally, New Street Research set a $14.50 price objective on shares of Northfield Bancorp in a research note on Friday, February 6th. One 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $14.33.

Hedge Funds Weigh In On Northfield Bancorp

Institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV lifted its position in shares of Northfield Bancorp by 47.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,848 shares of the bank's stock worth $204,000 after buying an additional 5,750 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Northfield Bancorp by 11.4% in the fourth quarter. NewEdge Advisors LLC now owns 25,666 shares of the bank's stock worth $293,000 after acquiring an additional 2,618 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Northfield Bancorp by 2.1% in the fourth quarter. Empowered Funds LLC now owns 169,787 shares of the bank's stock worth $1,941,000 after acquiring an additional 3,516 shares during the last quarter. Tudor Investment Corp ET AL boosted its stake in shares of Northfield Bancorp by 13.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 112,769 shares of the bank's stock valued at $1,289,000 after purchasing an additional 12,998 shares in the last quarter. Finally, Polymer Capital Management US LLC grew its holdings in shares of Northfield Bancorp by 10.0% during the 4th quarter. Polymer Capital Management US LLC now owns 31,744 shares of the bank's stock valued at $363,000 after purchasing an additional 2,880 shares during the last quarter. Institutional investors and hedge funds own 65.51% of the company's stock.

About Northfield Bancorp

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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