Northfield Bancorp (NASDAQ:NFBK) Issues Earnings Results

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) released its quarterly earnings results on Wednesday. The bank reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02, Zacks reports. Northfield Bancorp had a net margin of 13.56% and a return on equity of 4.65%. The business had revenue of $33.21 million for the quarter, compared to analysts' expectations of $34.25 million.

Northfield Bancorp Price Performance

NFBK stock traded down $0.49 during mid-day trading on Friday, reaching $10.88. The company's stock had a trading volume of 308,901 shares, compared to its average volume of 179,726. The stock has a market cap of $463.77 million, a PE ratio of 12.65 and a beta of 0.78. Northfield Bancorp has a fifty-two week low of $9.40 and a fifty-two week high of $14.39. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.08. The company's 50 day moving average is $11.72 and its two-hundred day moving average is $11.33.

Northfield Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.78%. Northfield Bancorp's payout ratio is currently 60.47%.

Insider Buying and Selling

In other Northfield Bancorp news, Director Frank P. Patafio sold 5,000 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $10.13, for a total value of $50,650.00. Following the transaction, the director directly owned 147,938 shares in the company, valued at $1,498,611.94. This represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northfield Bancorp

An institutional investor recently raised its position in Northfield Bancorp stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Northfield Bancorp, Inc. (NASDAQ:NFBK - Free Report) by 6.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,012 shares of the bank's stock after purchasing an additional 1,426 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.05% of Northfield Bancorp worth $251,000 as of its most recent SEC filing. Institutional investors own 65.51% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NFBK. Keefe, Bruyette & Woods dropped their price target on Northfield Bancorp from $12.50 to $12.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 29th. Piper Sandler upgraded Northfield Bancorp from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $13.00 to $14.00 in a research note 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.