JPMorgan Chase & Co. lowered its position in shares of Northfield Bancorp Inc. (NASDAQ:NFBK) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,696,527 shares of the company’s stock after selling 42,590 shares during the period. JPMorgan Chase & Co. owned about 3.83% of Northfield Bancorp worth $25,159,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Huntington Asset Advisors Inc. bought a new position in Northfield Bancorp during the first quarter worth $164,000. Old Mutual Global Investors UK Ltd. bought a new position in Northfield Bancorp during the second quarter worth $179,000. Airain ltd bought a new position in Northfield Bancorp during the second quarter worth $182,000. BNP Paribas Arbitrage SA raised its position in Northfield Bancorp by 132.6% in the second quarter. BNP Paribas Arbitrage SA now owns 12,344 shares of the company’s stock worth $183,000 after buying an additional 7,038 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Northfield Bancorp by 129.3% in the first quarter. Royal Bank of Canada now owns 11,340 shares of the company’s stock worth $186,000 after buying an additional 6,395 shares during the last quarter. 49.92% of the stock is owned by institutional investors and hedge funds.
Shares of Northfield Bancorp Inc. (NASDAQ:NFBK) traded down 0.49% on Friday, hitting $16.17. The stock had a trading volume of 47,078 shares. Northfield Bancorp Inc. has a 52 week low of $14.31 and a 52 week high of $16.68. The firm has a 50-day moving average price of $15.77 and a 200-day moving average price of $15.63. The stock has a market capitalization of $717.14 million, a P/E ratio of 34.40 and a beta of 0.27.
Northfield Bancorp (NASDAQ:NFBK) last posted its earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Northfield Bancorp had a return on equity of 3.89% and a net margin of 17.13%. The company had revenue of $25.64 million for the quarter, compared to the consensus estimate of $24.90 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. Northfield Bancorp’s revenue was up 26.9% on a year-over-year basis. Equities analysts expect that Northfield Bancorp Inc. will post $0.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Monday, August 8th. Northfield Bancorp’s dividend payout ratio is 68.09%.
Separately, Hovde Group initiated coverage on Northfield Bancorp in a report on Friday, August 12th. They set a “market perform” rating and a $16.00 target price for the company.
In other Northfield Bancorp news, Director Patrick E. Scura, Jr. sold 2,500 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $15.88, for a total value of $39,700.00. Following the transaction, the director now owns 81,846 shares of the company’s stock, valued at $1,299,714.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is owned by company insiders.
About Northfield Bancorp
Northfield Bancorp, Inc is a holding company for Northfield Bank (the Bank). Northfield Bank’s principal business consists of originating commercial real estate loans and multifamily real estate loans, purchasing investment securities including mortgage-backed securities and corporate bonds, as well as depositing funds in other financial institutions.
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