Northfield Bancorp, Inc. (NASDAQ:NFBK) Plans Quarterly Dividend of $0.13

Northfield Bancorp, Inc. (NASDAQ:NFBK - Get Free Report) declared a quarterly dividend on Wednesday, July 23rd, Wall Street Journal reports. Investors of record on Wednesday, August 6th will be given a dividend of 0.13 per share by the bank on Wednesday, August 20th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Wednesday, August 6th.

Northfield Bancorp has a dividend payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Northfield Bancorp to earn $1.14 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 45.6%.

Northfield Bancorp Price Performance

NASDAQ:NFBK traded up $0.12 during trading hours on Monday, reaching $11.00. 234,753 shares of the company's stock were exchanged, compared to its average volume of 154,411. The company has a market capitalization of $468.93 million, a P/E ratio of 12.79 and a beta of 0.78. Northfield Bancorp has a 12 month low of $9.40 and a 12 month high of $14.39. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 1.26. The business's 50-day simple moving average is $11.70 and its two-hundred day simple moving average is $11.33.

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

Institutional Trading of Northfield Bancorp

A hedge fund recently raised its stake in Northfield Bancorp stock. Empowered Funds LLC lifted its stake in shares of Northfield Bancorp, Inc. (NASDAQ:NFBK - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,823 shares of the bank's stock after purchasing an additional 4,741 shares during the period. Empowered Funds LLC owned approximately 0.31% of Northfield Bancorp worth $1,460,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 65.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NFBK. Keefe, Bruyette & Woods dropped their target price on shares of Northfield Bancorp from $12.50 to $12.00 and set a "market perform" rating on the stock in a report on Tuesday, April 29th. Piper Sandler upgraded shares of Northfield Bancorp from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $13.00 to $14.00 in a report on Friday, May 2nd.

About Northfield Bancorp

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.