Northfield Bancorp (NASDAQ:NFBK) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Northfield Bancorp, Inc. (NASDAQ:NFBK) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.33 and traded as high as $12.43. Northfield Bancorp shares last traded at $12.33, with a volume of 151,228 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NFBK shares. Keefe, Bruyette & Woods cut their target price on shares of Northfield Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Northfield Bancorp in a report on Tuesday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.00.

Northfield Bancorp Stock Performance

The firm has a market capitalization of $515.39 million, a price-to-earnings ratio of 12.71 and a beta of 0.87. The company has a 50-day moving average price of $10.90 and a 200-day moving average price of $11.33. 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 (NASDAQ:NFBK) last announced its earnings results on Thursday, October 23rd. The bank reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. Northfield Bancorp had a return on equity of 5.20% and a net margin of 14.92%.The firm had revenue of $39.24 million for the quarter, compared to the consensus estimate of $39.10 million. As a group, equities research analysts forecast that Northfield Bancorp, Inc. will post 0.82 earnings per share for the current year.

Northfield Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 5th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $0.52 annualized dividend and a yield of 4.2%. Northfield Bancorp’s dividend payout ratio is presently 53.61%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NFBK. Cullen Frost Bankers Inc. acquired a new stake in Northfield Bancorp in the second quarter worth approximately $31,000. Russell Investments Group Ltd. raised its stake in shares of Northfield Bancorp by 1,195.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,447 shares of the bank’s stock worth $41,000 after buying an additional 3,181 shares in the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of Northfield Bancorp in the third quarter valued at $77,000. Vanguard Personalized Indexing Management LLC bought a new position in Northfield Bancorp during the second quarter valued at about $138,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Northfield Bancorp in the third quarter worth about $143,000. 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.