Northfield Bancorp
NFBK

$11.78

3.24%

Market Cap: $522M

About: Northfield Bancorp Inc is the holding company for Northfield Bank. Its subsidiary provides banking services to individuals and corporate customers in Richmond and Kings Counties in New York, and Hunterdon, Mercer, Union and Middlesex counties in New Jersey. The bank attracts deposits and offers credit and other banking services.

Employees: 404

Financials Savings Institution, Federally Chartered

0

Funds holding %

of 6,710 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

24% more repeat investments, than reductions

Existing positions increased: 52 | Existing positions reduced: 42

5.23% less ownership

Funds ownership: 59.73% [Q1] → 54.51% (-5.23%) [Q2]

5% less funds holding

Funds holding: 146 [Q1] → 138 (-8) [Q2]

11% less capital invested

Capital invested by funds: $258M [Q1] → $229M (-$29.2M) [Q2]

22% less first-time investments, than exits

New positions opened: 28 | Existing positions closed: 36

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Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$11.25

4%

downside

Avg. target

$12.13

3%

upside

High target

$13

10%

upside

2 analyst ratings

0 positive

0%

2 neutral

100%

0 negative

0%

Piper Sandler Frank Schiraldi 61% 1-year accuracy 14 / 23 met price target	10%upside $13	Neutral Maintained	1 Aug 2024
Keefe, Bruyette & Woods Christopher O'Connell 82% 1-year accuracy 14 / 17 met price target	5%downside $11.25	Market Perform Maintained	30 Jul 2024

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Financial journalist opinion

Northfield Bancorp: The 24% Discount To Tangible Book Value Is Appealing

Northfield Bancorp's net interest income is under pressure due to rising interest expenses, impacting overall profitability despite a strong loan book. The bank's conservative asset management results in lower returns but enhances its safety profile, with a significant portion of assets in cash and low-risk securities. Northfield trades at a discount to its tangible book value, making it appealing despite a high earnings multiple, with potential for future earnings growth.

Northfield Bancorp: The 24% Discount To Tangible Book Value Is Appealing

Zacks Investment Research

Northfield Bancorp (NFBK) Q2 Earnings and Revenues Top Estimates

Northfield Bancorp (NFBK) came out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.22 per share a year ago.

Northfield Bancorp (NFBK) Q2 Earnings and Revenues Top Estimates

Northfield Bancorp, Inc. Announces Second Quarter 2024 Results

NOTABLE ITEMS FOR THE QUARTER INCLUDE: DILUTED EARNINGS PER SHARE WERE $0.14 FOR THE CURRENT QUARTER COMPARED TO $0.15 FOR THE TRAILING QUARTER, AND $0.22 FOR THE SECOND QUARTER OF 2023. RESULTS INCLUDE $0.03 PER SHARE IN EXPENSES ASSOCIATED WITH SEVERANCE PAYMENTS AND DEFERRED TAX ASSET WRITE-OFFS RELATED TO EXPIRED STOCK OPTIONS.

Northfield Bancorp, Inc. Announces Second Quarter 2024 Results

Steve M. Klein, President and CEO of Northfield Bank, Elected to the Board of Directors of the Federal Home Loan Bank of New York

WOODBRIDGE, N.J., July 16, 2024 (GLOBE NEWSWIRE) -- Northfield Bank, wholly-owned subsidiary of Northfield Bancorp, Inc. (NASDAQ: NFBK), announced today that Steven M. Klein, President and Chief Executive Officer, has been named to the Board of Directors of the Federal Home Loan Bank of New York (the “FHLBNY”).

Steve M. Klein, President and CEO of Northfield Bank, Elected to the Board of Directors of the Federal Home Loan Bank of New York

Zacks Investment Research

Northfield Bancorp (NFBK) Announces New $10M Repurchase Plan

Northfield Bancorp (NFBK) announces a new share repurchase program worth $10 million, with no set expiration date. Its strong liquidity position is expected to help sustain the capital distributions.

Northfield Bancorp (NFBK) Announces New $10M Repurchase Plan

Northfield Bancorp, Inc. Announces First Quarter 2024 Results

NOTABLE ITEMS FOR THE QUARTER INCLUDE: DILUTED EARNINGS PER SHARE WERE $0.15 FOR THE CURRENT QUARTER COMPARED TO $0.19 FOR THE TRAILING QUARTER, AND $0.26 FOR THE FIRST QUARTER OF 2023. NET INTEREST INCOME OF $27.9 MILLION, DECREASED $1.0 MILLION, OR 3.6%, PRIMARILY REFLECTING INCREASED FUNDING COSTS AND LOWER LOAN BALANCES.

Northfield Bancorp, Inc. Announces First Quarter 2024 Results

Northfield Bancorp: Over 5% Dividend Yield, Attractive Valuation (Rating Upgrade)

Interest rate cuts will trigger loan growth and help the margin to expand this year. Northfield Bancorp's earnings will likely remain flat as operating expense growth will counter loan and margin growth. The December 2024 target price suggests a price upside of over 22%.

Northfield Bancorp: Over 5% Dividend Yield, Attractive Valuation (Rating Upgrade)

Northfield Bancorp, Inc. Announces the Appointment of Dr. Rachana A. Kulkarni to Its Board of Directors

WOODBRIDGE, N.J., Jan. 24, 2024 (GLOBE NEWSWIRE) -- NORTHFIELD BANCORP, INC. (Nasdaq:NFBK) (the “Company'), today announced that its Boards of Directors appointed Dr. Rachana A. Kulkarni as a director of both the Company and Northfield Bank effective February 1, 2024.

Northfield Bancorp, Inc. Announces the Appointment of Dr. Rachana A. Kulkarni to Its Board of Directors

Northfield Bancorp, Inc. Announces Fourth Quarter and Year End 2023 Results

NOTABLE ITEMS INCLUDE: FOURTH QUARTER 2023 DILUTED EARNINGS PER SHARE OF $0.19 FOR THE FOURTH QUARTER OF 2023, COMPARED TO $0.19 FOR THE TRAILING QUARTER, AND $0.31 FOR THE FOURTH QUARTER OF 2022. NET INTEREST MARGIN COMPRESSION SLOWED TO EIGHT BASIS POINTS COMPARED TO A NINE BASIS POINT DECREASE FOR THE QUARTER ENDED SEPTEMBER 30, 2023.

Northfield Bancorp, Inc. Announces Fourth Quarter and Year End 2023 Results

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