Northfield Bancorp (NASDAQ:NFBK) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Northfield Bancorp, Inc. (NASDAQ:NFBK)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.91 and traded as high as $13.47. Northfield Bancorp shares last traded at $13.38, with a volume of 274,703 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NFBK shares. Weiss Ratings lowered Northfield Bancorp from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, March 4th. Keefe, Bruyette & Woods increased their price target on Northfield Bancorp from $12.00 to $14.50 and gave the company a “hold” rating in a research report on Friday, February 6th. Finally, New Street Research set a $14.50 price objective on Northfield Bancorp in a research note on Friday, February 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.33.

Northfield Bancorp Price Performance

The company has a debt-to-equity ratio of 1.39, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50 day simple moving average is $13.15 and its 200 day simple moving average is $11.91. The company has a market capitalization of $558.75 million, a PE ratio of 1,338.00 and a beta of 0.82.

Northfield Bancorp (NASDAQ:NFBK) last issued its quarterly earnings data on Tuesday, February 3rd. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.06. Northfield Bancorp had a net margin of 0.30% and a return on equity of 5.91%. The business had revenue of $78.01 million during the quarter, compared to the consensus estimate of $39.48 million. As a group, sell-side analysts predict that Northfield Bancorp, Inc. will post 0.82 earnings per share for the current year.

Northfield Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Thursday, February 12th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $0.52 dividend on an annualized basis and a yield of 3.9%. Northfield Bancorp’s payout ratio is 5,200.00%.

Insider Activity

In other news, EVP David Fasanella bought 7,500 shares of Northfield Bancorp stock in a transaction dated Thursday, March 19th. The stock was acquired at an average cost of $13.07 per share, with a total value of $98,025.00. Following the acquisition, the executive vice president owned 11,500 shares of the company’s stock, valued at approximately $150,305. This trade represents a 187.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul Stahlin bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was purchased at an average cost of $13.19 per share, with a total value of $131,900.00. Following the completion of the transaction, the director owned 54,354 shares in the company, valued at approximately $716,929.26. This trade represents a 22.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 5.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its stake in Northfield Bancorp by 17.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 699,647 shares of the bank’s stock valued at $8,256,000 after buying an additional 101,770 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Northfield Bancorp by 3.4% during the fourth quarter. AQR Capital Management LLC now owns 676,114 shares of the bank’s stock worth $7,728,000 after acquiring an additional 22,408 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Northfield Bancorp by 1.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 540,020 shares of the bank’s stock valued at $6,172,000 after acquiring an additional 7,100 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Northfield Bancorp by 19.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 326,288 shares of the bank’s stock valued at $3,729,000 after acquiring an additional 52,638 shares during the period. Finally, Bank of America Corp DE raised its position in Northfield Bancorp by 181.9% in the 3rd quarter. Bank of America Corp DE now owns 296,137 shares of the bank’s stock valued at $3,494,000 after purchasing an additional 191,079 shares during the last quarter. Institutional investors and hedge funds 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.