Northfield Bancorp (NASDAQ:NFBK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Northfield Bancorp (NASDAQ:NFBK) from a sell rating to a hold rating in a research report released on Friday, Zacks.com reports.

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 equities analysts also recently commented on the stock. TheStreet raised shares of Northfield Bancorp from a c+ rating to a b- rating in a report on Thursday, May 9th. BidaskClub raised shares of Northfield Bancorp from a sell rating to a hold rating in a report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating, The stock currently has an average rating of Hold and an average target price of $18.00.

NASDAQ:NFBK opened at $15.09 on Friday. The stock has a market cap of $751.15 million, a PE ratio of 19.86, a price-to-earnings-growth ratio of 2.52 and a beta of 0.55. Northfield Bancorp has a 52 week low of $12.76 and a 52 week high of $17.33. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67.

Northfield Bancorp (NASDAQ:NFBK) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $30.64 million during the quarter, compared to the consensus estimate of $30.24 million. Northfield Bancorp had a net margin of 23.84% and a return on equity of 5.30%. On average, equities research analysts expect that Northfield Bancorp will post 0.75 EPS for the current year.

In related news, Director Gil Chapman sold 3,000 shares of Northfield Bancorp stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $14.80, for a total transaction of $44,400.00. Following the completion of the transaction, the director now directly owns 54,397 shares of the company’s stock, valued at approximately $805,075.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven M. Klein sold 4,406 shares of Northfield Bancorp stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $15.09, for a total transaction of $66,486.54. Following the transaction, the chief executive officer now directly owns 370,226 shares of the company’s stock, valued at $5,586,710.34. The disclosure for this sale can be found here. Insiders have sold a total of 37,375 shares of company stock valued at $566,248 over the last three months. 8.60% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its holdings in Northfield Bancorp by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 33,459 shares of the bank’s stock valued at $453,000 after purchasing an additional 735 shares during the last quarter. Texas Permanent School Fund increased its position in Northfield Bancorp by 4.1% in the 4th quarter. Texas Permanent School Fund now owns 30,799 shares of the bank’s stock valued at $417,000 after acquiring an additional 1,215 shares in the last quarter. Comerica Bank increased its position in Northfield Bancorp by 2.7% in the 1st quarter. Comerica Bank now owns 46,453 shares of the bank’s stock valued at $674,000 after acquiring an additional 1,235 shares in the last quarter. California Public Employees Retirement System increased its position in Northfield Bancorp by 1.1% in the 4th quarter. California Public Employees Retirement System now owns 149,892 shares of the bank’s stock valued at $2,031,000 after acquiring an additional 1,571 shares in the last quarter. Finally, FMR LLC increased its position in Northfield Bancorp by 561.8% in the 4th quarter. FMR LLC now owns 2,356 shares of the bank’s stock valued at $32,000 after acquiring an additional 2,000 shares in the last quarter. 57.54% of the stock is owned by hedge funds and other institutional investors.

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 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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