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

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) posted its earnings results on Tuesday, April 21st. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02, Zacks reports. The company had revenue of $40.38 million during the quarter, compared to the consensus estimate of $40.60 million. Northfield Bancorp had a net margin of 1.77% and a return on equity of 6.72%.

Northfield Bancorp Stock Down 0.9%

NFBK traded down $0.12 during trading hours on Monday, hitting $13.91. 166,390 shares of the company's stock were exchanged, compared to its average volume of 291,032. The stock has a market cap of $581.15 million, a price-to-earnings ratio of 115.96 and a beta of 0.72. The stock's 50-day moving average is $13.59 and its two-hundred day moving average is $12.36. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.39. Northfield Bancorp has a 1-year low of $9.90 and a 1-year high of $14.21.

Northfield Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, May 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.7%. Northfield Bancorp's dividend payout ratio (DPR) is presently 433.33%.

Insider Activity at Northfield Bancorp

In other news, Director Paul Stahlin bought 10,000 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were bought at an average cost of $13.19 per share, with a total value of $131,900.00. Following the acquisition, the director owned 54,354 shares in the company, valued at $716,929.26. This trade represents a 22.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Fasanella bought 7,500 shares of Northfield Bancorp stock in a transaction dated Thursday, March 19th. The shares were acquired at an average price of $13.07 per share, with a total value of $98,025.00. Following the completion of the purchase, the executive vice president directly owned 11,500 shares in the company, valued at $150,305. This trade represents a 187.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 5.95% of the company's stock.

Institutional Trading of Northfield Bancorp

Large investors have recently made changes to their positions in the stock. MetLife Investment Management LLC grew its stake in shares of Northfield Bancorp by 4.9% during the 4th quarter. MetLife Investment Management LLC now owns 19,613 shares of the bank's stock worth $224,000 after purchasing an additional 918 shares during the period. Russell Investments Group Ltd. lifted its holdings in Northfield Bancorp by 29.9% during the 4th quarter. Russell Investments Group Ltd. now owns 4,479 shares of the bank's stock worth $51,000 after buying an additional 1,032 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Northfield Bancorp by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,129 shares of the bank's stock valued at $174,000 after buying an additional 1,164 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Northfield Bancorp by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,012 shares of the bank's stock worth $251,000 after acquiring an additional 1,426 shares in the last quarter. Finally, Mariner LLC grew its stake in shares of Northfield Bancorp by 7.4% in the fourth quarter. Mariner LLC now owns 21,285 shares of the bank's stock worth $243,000 after acquiring an additional 1,475 shares in the last quarter. 65.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Northfield Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, April 17th. Keefe, Bruyette & Woods lifted their target price on shares of Northfield Bancorp from $12.00 to $14.50 and gave the company a "hold" rating in a report on Friday, February 6th. Finally, New Street Research set a $14.50 target price on shares of Northfield Bancorp in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.50.

Northfield Bancorp Company Profile

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.