Northfield Bancorp (NASDAQ:NFBK) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• Northfield Bancorp's share price recently surpassed its 200-day moving average, trading at $11.38, indicating a potential strengthening in market performance.
• Analysts have shown a mixed outlook, with Piper Sandler upgrading the stock's rating to "overweight" and increasing the price target, while Keefe, Bruyette & Woods reduced theirs to $12.00.
• The company declared a quarterly dividend of $0.13 per share, yielding 4.7%, with an annualized payout of $0.52 and a payout ratio of 60.47%.

Northfield Bancorp, Inc. (NASDAQ:NFBK - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.27 and traded as high as $11.43. Northfield Bancorp shares last traded at $11.38, with a volume of 169,220 shares traded.

Wall Street Analysts Forecast Growth

NFBK has been the topic of a number of recent analyst reports. Piper Sandler upgraded Northfield Bancorp from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $13.00 to $14.00 in a research report on Friday, May 2nd. Keefe, Bruyette & Woods reduced their target price on Northfield Bancorp from $12.50 to $12.00 and set a "market perform" rating on the stock in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Northfield Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

Northfield Bancorp Stock Up 0.5%

The stock has a 50 day moving average of $11.44 and a 200-day moving average of $11.26. The firm has a market capitalization of $462.72 million, a P/E ratio of 12.86 and a beta of 0.84. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.00 and a current ratio of 1.00.

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $33.21 million during the quarter, compared to analyst estimates of $34.25 million. Northfield Bancorp had a net margin of 13.56% and a return on equity of 4.64%. Research analysts predict that Northfield Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Northfield Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, August 6th. Northfield Bancorp's dividend payout ratio is 60.47%.

Institutional Trading of Northfield Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. purchased a new position in Northfield Bancorp during the second quarter valued at $31,000. GAMMA Investing LLC increased its holdings in Northfield Bancorp by 113.7% in the 1st quarter. GAMMA Investing LLC now owns 3,870 shares of the bank's stock worth $42,000 after buying an additional 2,059 shares in the last quarter. Quarry LP increased its holdings in Northfield Bancorp by 193.1% in the 4th quarter. Quarry LP now owns 6,981 shares of the bank's stock worth $81,000 after buying an additional 4,599 shares in the last quarter. ProShare Advisors LLC bought a new stake in Northfield Bancorp in the 4th quarter worth about $125,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Northfield Bancorp during the 2nd quarter valued at about $138,000. Hedge funds and other institutional investors 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.