Keefe, Bruyette & Woods Cuts Northfield Bancorp (NASDAQ:NFBK) Price Target to $12.00

Northfield Bancorp (NASDAQ:NFBK) had its price target cut by Keefe, Bruyette & Woods from $13.00 to $12.00 in a research report released on Tuesday, MarketBeat reports. They currently have a market perform rating on the bank’s stock.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Northfield Bancorp in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Northfield Bancorp presently has a consensus rating of “Hold” and an average target price of $13.00.

Northfield Bancorp Stock Performance

Shares of NASDAQ:NFBK opened at $10.28 on Tuesday. The company has a market capitalization of $429.82 million, a price-to-earnings ratio of 10.60 and a beta of 0.85. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.31. Northfield Bancorp has a 52 week low of $9.40 and a 52 week high of $14.39. The firm has a 50 day moving average of $11.45 and a 200 day moving average of $11.33.

Northfield Bancorp (NASDAQ:NFBK) last released its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $39.24 million during the quarter, compared to analyst estimates of $39.10 million. Northfield Bancorp had a return on equity of 5.20% and a net margin of 14.92%. On average, sell-side analysts predict that Northfield Bancorp will post 0.82 earnings per share for the current fiscal year.

Northfield Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 5th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Wednesday, November 5th. Northfield Bancorp’s dividend payout ratio is currently 53.61%.

Hedge Funds Weigh In On Northfield Bancorp

Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of Northfield Bancorp by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,129 shares of the bank’s stock valued at $174,000 after acquiring an additional 1,164 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Northfield Bancorp by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,012 shares of the bank’s stock valued at $251,000 after acquiring an additional 1,426 shares during the period. Occudo Quantitative Strategies LP increased its position in shares of Northfield Bancorp by 7.2% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 24,129 shares of the bank’s stock valued at $277,000 after acquiring an additional 1,619 shares during the period. AlphaQuest LLC increased its position in shares of Northfield Bancorp by 11.3% in the 2nd quarter. AlphaQuest LLC now owns 18,111 shares of the bank’s stock valued at $208,000 after acquiring an additional 1,841 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Northfield Bancorp by 6.5% in the second quarter. First Trust Advisors LP now owns 30,623 shares of the bank’s stock valued at $352,000 after purchasing an additional 1,880 shares during the period. Institutional investors and hedge funds own 65.51% of the company’s stock.

Northfield Bancorp Company Profile

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.