Piper Jaffray Companies Comments on Northfield Bancorp Inc’s Q3 2019 Earnings (NASDAQ:NFBK)

Northfield Bancorp Inc (NASDAQ:NFBK) – Research analysts at Piper Jaffray Companies upped their Q3 2019 earnings per share estimates for shares of Northfield Bancorp in a research note issued on Tuesday, August 6th. Piper Jaffray Companies analyst M. Breese now forecasts that the bank will earn $0.21 per share for the quarter, up from their previous estimate of $0.19. Piper Jaffray Companies also issued estimates for Northfield Bancorp’s FY2019 earnings at $0.78 EPS, Q1 2020 earnings at $0.20 EPS, Q2 2020 earnings at $0.21 EPS and FY2020 earnings at $0.85 EPS.

Other research analysts have also recently issued research reports about the company. BidaskClub upgraded Northfield Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. TheStreet upgraded Northfield Bancorp from a “c+” rating to a “b-” rating in a research note on Thursday, May 9th. Finally, Zacks Investment Research upgraded Northfield Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday, July 30th.

NFBK opened at $15.59 on Friday. The company has a 50 day moving average price of $15.59. The stock has a market cap of $772.05 million, a PE ratio of 20.51, a PEG ratio of 2.53 and a beta of 0.55. Northfield Bancorp has a 52 week low of $12.76 and a 52 week high of $16.73. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.91.

Northfield Bancorp (NASDAQ:NFBK) last released its earnings results on Wednesday, July 24th. The bank reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.02). The firm had revenue of $29.73 million during the quarter, compared to analysts’ expectations of $29.96 million. Northfield Bancorp had a net margin of 21.75% and a return on equity of 4.88%.

Large investors have recently made changes to their positions in the business. FMR LLC raised its stake in Northfield Bancorp by 561.8% during the fourth quarter. FMR LLC now owns 2,356 shares of the bank’s stock valued at $32,000 after buying an additional 2,000 shares during the last quarter. Knuff & Co LLC bought a new stake in shares of Northfield Bancorp in the 1st quarter worth $51,000. Bank of Montreal Can increased its holdings in shares of Northfield Bancorp by 631.1% in the 2nd quarter. Bank of Montreal Can now owns 4,116 shares of the bank’s stock worth $65,000 after purchasing an additional 3,553 shares in the last quarter. H D Vest Advisory Services bought a new stake in shares of Northfield Bancorp in the 2nd quarter worth $157,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Northfield Bancorp by 183.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,090 shares of the bank’s stock worth $140,000 after purchasing an additional 6,531 shares in the last quarter. Institutional investors and hedge funds own 57.40% of the company’s stock.

In other Northfield Bancorp news, Chairman John Wade Alexander sold 2,400 shares of Northfield Bancorp stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $15.91, for a total transaction of $38,184.00. Following the completion of the transaction, the chairman now owns 351,013 shares in the company, valued at $5,584,616.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven M. Klein sold 4,406 shares of Northfield Bancorp stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $15.09, for a total value of $66,486.54. Following the transaction, the chief executive officer now owns 370,226 shares of the company’s stock, valued at approximately $5,586,710.34. The disclosure for this sale can be found here. Insiders have sold 67,355 shares of company stock valued at $1,046,030 in the last quarter. 8.60% of the stock is owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Tuesday, August 6th. Northfield Bancorp’s payout ratio is 57.89%.

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 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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Earnings History and Estimates for Northfield Bancorp (NASDAQ:NFBK)

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