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

Northfield Bancorp, Inc. (NASDAQ:NFBK - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.33 and traded as high as $11.37. Northfield Bancorp shares last traded at $11.36, with a volume of 140,211 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NFBK shares. Piper Sandler upgraded shares of Northfield Bancorp from a "neutral" rating to an "overweight" rating and raised their target price for the company from $13.00 to $14.00 in a research note on Friday, May 2nd. Keefe, Bruyette & Woods cut their target price on shares of Northfield Bancorp from $12.50 to $12.00 and set a "market perform" rating for the company in a research note on Tuesday, April 29th.

Northfield Bancorp Stock Performance

The stock has a market cap of $469.74 million, a P/E ratio of 12.81 and a beta of 0.78. The stock has a fifty day simple moving average of $11.70 and a 200-day simple moving average of $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.

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The bank reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The firm 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%. Equities analysts expect that Northfield Bancorp, Inc. will post 0.82 earnings per share for the current fiscal year.

Northfield Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.52 dividend on an annualized basis and a yield of 4.72%. Northfield Bancorp's dividend payout ratio is 60.47%.

Institutional Investors Weigh In On Northfield Bancorp

Several large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in shares of Northfield Bancorp by 0.9% during the fourth quarter. Bank of America Corp DE now owns 110,130 shares of the bank's stock worth $1,280,000 after acquiring an additional 973 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Northfield Bancorp by 9.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,076 shares of the bank's stock valued at $152,000 after buying an additional 1,159 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Northfield Bancorp by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,012 shares of the bank's stock worth $251,000 after buying an additional 1,426 shares during the period. GAMMA Investing LLC lifted its holdings in shares of 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 in the last quarter. Finally, CWM LLC boosted its position in shares of Northfield Bancorp by 9.2% in the first quarter. CWM LLC now owns 31,571 shares of the bank's stock valued at $344,000 after acquiring an additional 2,666 shares during the period. 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.