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

Northfield Bancorp, Inc. (NASDAQ:NFBK - Get Free Report) declared a quarterly dividend on Thursday, July 24th, 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 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Wednesday, August 6th.

Northfield Bancorp has a dividend payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.1%

Northfield Bancorp stock traded up $0.01 during midday trading on Thursday, hitting $11.37. 200,912 shares of the stock were exchanged, compared to its average volume of 178,796. The stock has a market capitalization of $484.70 million, a price-to-earnings ratio of 14.96 and a beta of 0.78. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.08. Northfield Bancorp has a 52-week low of $9.40 and a 52-week high of $14.39. The business's 50-day moving average price is $11.73 and its 200-day moving average price is $11.33.

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Northfield Bancorp had a net margin of 12.35% and a return on equity of 4.34%. The business had revenue of $33.21 million for the quarter, compared to analyst estimates of $34.25 million. On average, research analysts expect that Northfield Bancorp will post 0.82 EPS for the current fiscal year.

Insider Activity

In related news, Director Frank P. Patafio sold 5,000 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $10.13, for a total value of $50,650.00. Following the completion of the transaction, the director directly owned 147,938 shares in the company, valued at $1,498,611.94. This trade represents a 3.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.95% of the stock is currently owned by insiders.

Institutional Trading of Northfield Bancorp

A hedge fund recently raised its stake in Northfield Bancorp stock. Empowered Funds LLC raised its position in shares of Northfield Bancorp, Inc. (NASDAQ:NFBK - Free Report) by 3.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 133,823 shares of the bank's stock after purchasing an additional 4,741 shares during the quarter. Empowered Funds LLC owned 0.31% of Northfield Bancorp worth $1,460,000 at the end of the most recent quarter. 65.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NFBK shares. Piper Sandler raised shares of Northfield Bancorp from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $13.00 to $14.00 in a research note on Friday, May 2nd. Keefe, Bruyette & Woods cut their price objective on shares of Northfield Bancorp from $12.50 to $12.00 and set a "market perform" rating for the company in a research note on Tuesday, April 29th.

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.

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