Zacks Investment Research lowered shares of Northfield Bancorp (NASDAQ:NFBK) from a buy rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “NORTHFIELD Building Loan and Savings Association in the village of Mariners Harbor, Town of Northfield, County of Richmond, by a group of Staten Islanders for the purpose of rendering mutual aid to each other, and to those who shall hereafter be associated with us. “
A number of other research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Northfield Bancorp from a hold rating to a sell rating in a research note on Monday, September 24th. BidaskClub downgraded shares of Northfield Bancorp from a sell rating to a strong sell rating in a research note on Thursday, September 20th. Finally, Keefe, Bruyette & Woods reiterated a neutral rating on shares of Northfield Bancorp in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has an average rating of Hold and a consensus target price of $17.75.
Shares of NASDAQ NFBK traded down $0.64 during midday trading on Wednesday, hitting $14.33. The company’s stock had a trading volume of 144,795 shares, compared to its average volume of 87,678. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.09 and a current ratio of 1.09. Northfield Bancorp has a 1 year low of $14.24 and a 1 year high of $18.39. The firm has a market cap of $787.93 million, a price-to-earnings ratio of 19.63, a PEG ratio of 2.40 and a beta of 0.41.
Northfield Bancorp (NASDAQ:NFBK) last posted its quarterly earnings data on Friday, July 27th. The bank reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Northfield Bancorp had a net margin of 18.48% and a return on equity of 5.75%. The business had revenue of $30.22 million during the quarter, compared to analyst estimates of $30.37 million. Equities analysts predict that Northfield Bancorp will post 0.83 EPS for the current fiscal year.
In other Northfield Bancorp news, EVP Robin Lefkowitz sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $16.30, for a total transaction of $32,600.00. Following the sale, the executive vice president now owns 24,670 shares of the company’s stock, valued at $402,121. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John P. Connors, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $16.05, for a total transaction of $40,125.00. Following the sale, the director now directly owns 104,603 shares in the company, valued at approximately $1,678,878.15. The disclosure for this sale can be found here. Insiders sold 10,231 shares of company stock valued at $166,840 in the last quarter. 9.20% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. raised its holdings in Northfield Bancorp by 4,853.1% during the second quarter. Sei Investments Co. now owns 6,439 shares of the bank’s stock worth $107,000 after purchasing an additional 6,309 shares in the last quarter. Bank of Montreal Can raised its holdings in Northfield Bancorp by 70.2% during the second quarter. Bank of Montreal Can now owns 7,386 shares of the bank’s stock worth $122,000 after purchasing an additional 3,046 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Northfield Bancorp during the first quarter worth approximately $126,000. RMB Capital Management LLC acquired a new stake in Northfield Bancorp during the first quarter worth approximately $156,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Northfield Bancorp during the second quarter worth approximately $179,000. 55.16% of the stock is currently owned by institutional investors.
About Northfield Bancorp
Northfield Bancorp, Inc 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 transaction accounts comprising negotiable orders of withdrawal accounts and non-interest bearing checking accounts; savings accounts, such as money market, passbook, and statement savings; certificates of deposit consisting of individual retirement accounts; and brokered deposits.
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