Northfield Bancorp (NFBK) Rating Lowered to Sell at BidaskClub

Northfield Bancorp (NASDAQ:NFBK) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Other equities analysts have also recently issued reports about the company. TheStreet upgraded Northfield Bancorp from a “c+” rating to a “b” rating in a report on Thursday, April 26th. Zacks Investment Research upgraded Northfield Bancorp from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Tuesday, January 30th. Sandler O’Neill restated a “hold” rating and set a $16.50 target price on shares of Northfield Bancorp in a report on Monday, March 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $18.50 target price on shares of Northfield Bancorp in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $17.60.

Shares of Northfield Bancorp stock opened at $16.27 on Wednesday. Northfield Bancorp has a 12 month low of $15.88 and a 12 month high of $15.92. The stock has a market cap of $777.27 million, a P/E ratio of 22.29, a PEG ratio of 2.37 and a beta of 0.35. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.08 and a quick ratio of 1.08.

Northfield Bancorp (NASDAQ:NFBK) last announced its earnings results on Wednesday, April 25th. The bank reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Northfield Bancorp had a return on equity of 5.43% and a net margin of 17.38%. The company had revenue of $29.95 million during the quarter, compared to analysts’ expectations of $29.87 million. equities analysts expect that Northfield Bancorp will post 0.84 EPS for the current fiscal year.

In other news, CEO Steven M. Klein sold 10,747 shares of Northfield Bancorp stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $16.02, for a total value of $172,166.94. Following the completion of the transaction, the chief executive officer now owns 307,776 shares in the company, valued at approximately $4,930,571.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank P. Patafio sold 5,000 shares of Northfield Bancorp stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $16.10, for a total value of $80,500.00. Following the completion of the transaction, the director now owns 192,274 shares of the company’s stock, valued at approximately $3,095,611.40. The disclosure for this sale can be found here. Insiders sold a total of 75,278 shares of company stock valued at $1,209,045 in the last quarter. Company insiders own 9.34% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Northfield Bancorp in the 1st quarter valued at about $126,000. RMB Capital Management LLC purchased a new position in shares of Northfield Bancorp in the 1st quarter valued at about $156,000. Barclays PLC boosted its stake in shares of Northfield Bancorp by 99.3% in the 1st quarter. Barclays PLC now owns 13,612 shares of the bank’s stock valued at $212,000 after buying an additional 6,783 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Northfield Bancorp in the 4th quarter valued at about $260,000. Finally, Aperio Group LLC boosted its stake in shares of Northfield Bancorp by 29.1% in the 1st quarter. Aperio Group LLC now owns 17,563 shares of the bank’s stock valued at $274,000 after buying an additional 3,957 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Northfield Bancorp

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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