Northfield Bancorp (NFBK) Downgraded by BidaskClub

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

Several other equities analysts also recently issued reports on NFBK. ValuEngine downgraded Northfield Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research raised Northfield Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, Keefe, Bruyette & Woods reissued 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 five have given a hold rating to the company. Northfield Bancorp has an average rating of “Hold” and an average target price of $17.60.

Shares of NFBK opened at $16.21 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.81. Northfield Bancorp has a 52-week low of $15.14 and a 52-week high of $18.39. The firm has a market capitalization of $821.58 million, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 2.50 and a beta of 0.38.

Northfield Bancorp (NASDAQ:NFBK) last issued its quarterly earnings data on Friday, July 27th. The bank reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Northfield Bancorp had a return on equity of 5.75% and a net margin of 18.48%. The firm had revenue of $30.22 million during the quarter, compared to the consensus estimate of $30.37 million. equities research analysts forecast that Northfield Bancorp will post 0.83 earnings per share for the current year.

In other news, Director John P. Connors, Jr. sold 2,500 shares of Northfield Bancorp stock in a transaction on Monday, August 27th. The stock was sold at an average price of $16.62, for a total value of $41,550.00. Following the completion of the sale, the director now directly owns 107,103 shares of the company’s stock, valued at approximately $1,780,051.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael J. Widmer sold 11,294 shares of Northfield Bancorp stock in a transaction on Monday, June 4th. The shares were sold at an average price of $16.50, for a total value of $186,351.00. Following the completion of the sale, the executive vice president now directly owns 143,241 shares of the company’s stock, valued at $2,363,476.50. The disclosure for this sale can be found here. Insiders sold a total of 92,269 shares of company stock valued at $1,532,534 over the last three months. Insiders own 9.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its stake in shares of Northfield Bancorp by 14.1% in the 2nd quarter. California Public Employees Retirement System now owns 162,942 shares of the bank’s stock valued at $2,708,000 after buying an additional 20,158 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Northfield Bancorp by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,542,428 shares of the bank’s stock valued at $58,875,000 after buying an additional 115,381 shares during the period. Legal & General Group Plc increased its stake in shares of Northfield Bancorp by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 91,952 shares of the bank’s stock valued at $1,528,000 after buying an additional 6,203 shares during the period. BlackRock Inc. increased its stake in shares of Northfield Bancorp by 7.3% in the 2nd quarter. BlackRock Inc. now owns 6,402,460 shares of the bank’s stock valued at $106,409,000 after buying an additional 436,513 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Northfield Bancorp by 5.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 248,583 shares of the bank’s stock valued at $4,132,000 after buying an additional 13,377 shares during the period. 55.17% of the stock is owned by institutional investors.

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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