Northfield Bancorp (NFBK) Rating Lowered to Strong Sell at BidaskClub

Northfield Bancorp (NASDAQ:NFBK) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.

A number of other brokerages have also recently issued reports on NFBK. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $18.50 price objective on shares of Northfield Bancorp in a research note on Tuesday, February 27th. Piper Jaffray reaffirmed a “hold” rating and set a $18.00 price objective on shares of Northfield Bancorp in a research note on Tuesday, January 9th. Sandler O’Neill reaffirmed a “hold” rating and set a $16.50 price objective on shares of Northfield Bancorp in a research note on Monday, March 26th. Finally, Zacks Investment Research raised Northfield Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $17.80.

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NFBK opened at $15.68 on Wednesday. The firm has a market capitalization of $774.74, a P/E ratio of 21.48, a PEG ratio of 2.45 and a beta of 0.36. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.73. Northfield Bancorp has a 52 week low of $15.14 and a 52 week high of $19.08.

Northfield Bancorp (NASDAQ:NFBK) last released its earnings results on Wednesday, January 24th. The bank reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.02. The business had revenue of $30.40 million for the quarter, compared to analysts’ expectations of $30.67 million. Northfield Bancorp had a return on equity of 5.03% and a net margin of 17.14%. During the same quarter in the prior year, the firm earned $0.18 earnings per share. sell-side analysts anticipate that Northfield Bancorp will post 0.81 earnings per share for the current fiscal year.

In other news, Director Patrick E. Scura, Jr. sold 53,905 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $15.68, for a total transaction of $845,230.40. Following the transaction, the director now directly owns 80,043 shares of the company’s stock, valued at $1,255,074.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven M. Klein sold 7,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $17.06, for a total value of $127,950.00. Following the transaction, the chief executive officer now directly owns 336,400 shares in the company, valued at $5,738,984. The disclosure for this sale can be found here. Insiders have sold 151,763 shares of company stock worth $2,425,744 over the last ninety days. Insiders own 9.34% of the company’s stock.

Several large investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC bought a new position in shares of Northfield Bancorp during the fourth quarter valued at about $331,000. Two Sigma Advisers LP grew its stake in shares of Northfield Bancorp by 27.1% in the fourth quarter. Two Sigma Advisers LP now owns 44,053 shares of the bank’s stock worth $752,000 after purchasing an additional 9,400 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Northfield Bancorp by 70.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 124,905 shares of the bank’s stock worth $2,133,000 after purchasing an additional 51,774 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Northfield Bancorp by 21.2% in the fourth quarter. Deutsche Bank AG now owns 100,869 shares of the bank’s stock worth $1,720,000 after purchasing an additional 17,677 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Northfield Bancorp by 45.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 33,792 shares of the bank’s stock worth $577,000 after purchasing an additional 10,495 shares during the last quarter. 53.33% of the stock is currently owned by hedge funds and other institutional investors.

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Northfield Bancorp Company Profile

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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