Northfield Bancorp (NASDAQ:NFBK) Share Price Crosses Above 200-Day Moving Average - Here's Why

Northfield Bancorp, Inc. (NASDAQ:NFBK - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.34 and traded as high as $12.15. Northfield Bancorp shares last traded at $11.96, with a volume of 158,266 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NFBK shares. 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 report on Tuesday, April 29th. Piper Sandler raised shares of Northfield Bancorp from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $13.00 to $14.00 in a research report on Friday, May 2nd.

Northfield Bancorp Stock Down 2.0%

The company has a debt-to-equity ratio of 1.08, a current ratio of 0.98 and a quick ratio of 0.98. The firm's 50-day moving average is $11.74 and its 200 day moving average is $11.34. The stock has a market cap of $499.62 million, a price-to-earnings ratio of 15.42 and a beta of 0.78.

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. Northfield Bancorp had a net margin of 12.35% and a return on equity of 4.34%. The firm had revenue of $34.81 million during the quarter, compared to analyst estimates of $29.82 million. Sell-side analysts anticipate that Northfield Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Northfield Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 4.44%. The ex-dividend date was Wednesday, May 7th. Northfield Bancorp's dividend payout ratio (DPR) is 68.42%.

Insider Buying and Selling

In related news, Director Frank P. Patafio sold 5,000 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $10.13, for a total transaction of $50,650.00. Following the completion of the transaction, the director owned 147,938 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Company insiders own 5.95% of the company's stock.

Hedge Funds Weigh In On Northfield Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in Northfield Bancorp by 113.7% during the first quarter. GAMMA Investing LLC now owns 3,870 shares of the bank's stock worth $42,000 after buying an additional 2,059 shares during the period. Quantbot Technologies LP purchased a new position in Northfield Bancorp in the fourth quarter valued at about $74,000. Quarry LP lifted its stake in shares of Northfield Bancorp by 193.1% during the fourth quarter. Quarry LP now owns 6,981 shares of the bank's stock worth $81,000 after purchasing an additional 4,599 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Northfield Bancorp in the fourth quarter worth about $107,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Northfield Bancorp in the fourth quarter valued at about $125,000. Institutional investors and hedge funds own 65.51% of the company's stock.

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.