Northfield Bancorp (NASDAQ:NFBK) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) issued its quarterly earnings data on Wednesday. The bank reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02, Zacks reports. The firm had revenue of $33.21 million for 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%.

Northfield Bancorp Stock Performance

NFBK stock traded down $0.49 during mid-day trading on Friday, reaching $10.88. The company had a trading volume of 308,901 shares, compared to its average volume of 154,411. Northfield Bancorp has a one year low of $9.40 and a one year high of $14.39. The stock's 50-day simple moving average is $11.70 and its two-hundred day simple moving average is $11.33. 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 stock has a market capitalization of $463.81 million, a P/E ratio of 12.65 and a beta of 0.78.

Northfield Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 4.78%. The ex-dividend date is Wednesday, August 6th. Northfield Bancorp's dividend payout ratio (DPR) is presently 60.47%.

Insider Buying and Selling at Northfield Bancorp

In related news, Director Frank P. Patafio sold 5,000 shares of Northfield Bancorp stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $10.13, for a total transaction of $50,650.00. Following the sale, the director directly owned 147,938 shares in the company, valued at $1,498,611.94. The trade was a 3.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Northfield Bancorp stock. Empowered Funds LLC raised its holdings in shares of Northfield Bancorp, Inc. (NASDAQ:NFBK - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,823 shares of the bank's stock after acquiring an additional 4,741 shares during the quarter. Empowered Funds LLC owned approximately 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 and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on NFBK. Piper Sandler upgraded shares of Northfield Bancorp from a "neutral" rating to an "overweight" rating and upped their target price for the company from $13.00 to $14.00 in a report on Friday, May 2nd. Keefe, Bruyette & Woods lowered 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 report on Tuesday, April 29th.

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.