Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Northfield Bancorp (NASDAQ:NFBK) Stock

Northfield Bancorp (NASDAQ:NFBK) had its target price boosted by Keefe, Bruyette & Woods from $12.00 to $14.50 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 4.54% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. New Street Research set a $14.50 target price on Northfield Bancorp in a report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Northfield Bancorp in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.33.

Northfield Bancorp Stock Performance

Shares of NASDAQ:NFBK opened at $13.87 on Friday. The company has a market cap of $579.77 million, a price-to-earnings ratio of 1,387.00 and a beta of 0.85. The company has a 50-day moving average price of $11.96 and a 200-day moving average price of $11.40. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 1.39. Northfield Bancorp has a 12 month low of $9.40 and a 12 month high of $14.05.

Northfield Bancorp (NASDAQ:NFBK) last released its quarterly earnings results on Monday, February 2nd. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. Northfield Bancorp had a return on equity of 5.91% and a net margin of 0.30%.The business had revenue of $78.01 million during the quarter, compared to analyst estimates of $39.48 million. As a group, equities analysts anticipate that Northfield Bancorp will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NFBK. Cullen Frost Bankers Inc. purchased a new position in Northfield Bancorp in the second quarter worth about $31,000. Signaturefd LLC grew its holdings in shares of Northfield Bancorp by 41.6% during the fourth quarter. Signaturefd LLC now owns 3,019 shares of the bank’s stock valued at $35,000 after buying an additional 887 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Northfield Bancorp by 1,195.9% during the third quarter. Russell Investments Group Ltd. now owns 3,447 shares of the bank’s stock valued at $41,000 after acquiring an additional 3,181 shares in the last quarter. Quadrant Capital Group LLC bought a new stake in shares of Northfield Bancorp during the third quarter valued at approximately $77,000. Finally, Cornerstone Planning Group LLC raised its holdings in Northfield Bancorp by 30,922.6% in the 4th quarter. Cornerstone Planning Group LLC now owns 9,617 shares of the bank’s stock worth $114,000 after acquiring an additional 9,586 shares during the last quarter. Hedge funds and other institutional investors own 65.51% of the company’s stock.

About Northfield Bancorp

Northfield Bancorp is the bank holding company for Northfield Bank, a New Jersey‐based community bank offering a full range of financial products and services. Headquartered in New Jersey, the company serves individuals, families and small to mid‐sized businesses across Northern and Central New Jersey. Northfield Bancorp focuses on building lasting customer relationships through a combination of personalized service and technology‐driven solutions.

Through its subsidiary, Northfield Bank provides personal banking services such as checking and savings accounts, consumer loans, mortgage products and home equity lines of credit.