Northfield Bancorp (NASDAQ:NFBK) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Northfield Bancorp stock has recently surpassed its two hundred day moving average, trading as high as $11.94 and closing at $11.81, indicating potential upward momentum.
• The company reported earnings of $0.24 per share, exceeding analyst expectations, but its revenue of $33.21 million fell short of estimates.
• Northfield Bancorp announced a quarterly dividend of $0.13 per share, which offers a dividend yield of 4.4%, reinforcing its appeal to income-focused investors.

Northfield Bancorp, Inc. (NASDAQ:NFBK - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.28 and traded as high as $11.94. Northfield Bancorp shares last traded at $11.81, with a volume of 155,027 shares traded.

Northfield Bancorp Price Performance

The company has a debt-to-equity ratio of 1.26, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day simple moving average of $11.40 and a two-hundred day simple moving average of $11.28. The stock has a market capitalization of $493.78 million, a price-to-earnings ratio of 13.73 and a beta of 0.87.

Northfield Bancorp (NASDAQ:NFBK - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The bank reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Northfield Bancorp had a return on equity of 4.64% and a net margin of 13.56%.The firm had revenue of $33.21 million for the quarter, compared to analyst estimates of $34.25 million. On average, equities research analysts predict that Northfield Bancorp, Inc. will post 0.82 earnings per share for the current year.

Northfield Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Wednesday, August 6th. Northfield Bancorp's dividend payout ratio (DPR) is 60.47%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Trexquant Investment LP increased its holdings in shares of Northfield Bancorp by 66.2% during the first quarter. Trexquant Investment LP now owns 150,521 shares of the bank's stock valued at $1,642,000 after purchasing an additional 59,955 shares during the period. Nuveen LLC acquired a new position in shares of Northfield Bancorp during the first quarter valued at $1,225,000. Vanguard Group Inc. increased its holdings in shares of Northfield Bancorp by 3.7% during the first quarter. Vanguard Group Inc. now owns 2,356,797 shares of the bank's stock valued at $25,713,000 after purchasing an additional 84,883 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Northfield Bancorp by 211.2% during the fourth quarter. Squarepoint Ops LLC now owns 36,976 shares of the bank's stock valued at $430,000 after purchasing an additional 25,095 shares during the period. Finally, GAMMA Investing LLC increased 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 valued at $42,000 after purchasing an additional 2,059 shares during the period. 65.51% of the stock is owned by institutional investors and hedge funds.

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.

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