Declared Dividend • Apr 23
First quarter dividend of US$0.13 announced Dividend of US$0.13 is the same as last year. Ex-date: 6th May 2026 Payment date: 20th May 2026 Dividend yield will be 3.8%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 6.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 383% to bring the payout ratio under control. EPS is expected to grow by 76% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Apr 21
First quarter 2026 earnings released First quarter 2026 results: Net income: (down US$7.88m from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. New Risk • Apr 21
New major risk - Revenue and earnings growth Earnings have declined by 23% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 23% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (dividend per share is over 26x earnings per share). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Announcement • Mar 03
Northfield Bancorp, Inc. (Staten Island, NY), Annual General Meeting, May 27, 2026 Northfield Bancorp, Inc. (Staten Island, NY), Annual General Meeting, May 27, 2026. Major Estimate Revision • Feb 09
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from US$161.9m to US$166.9m. EPS estimate increased from US$1.20 to US$1.35 per share. Net income forecast to grow 6,545% next year vs 14% growth forecast for Banks industry in the US. Consensus price target up from US$12.00 to US$14.50. Share price was steady at US$13.87 over the past week. Declared Dividend • Feb 04
Fourth quarter dividend of US$0.13 announced Dividend of US$0.13 is the same as last year. Ex-date: 12th February 2026 Payment date: 25th February 2026 Dividend yield will be 3.8%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 26x earnings). However, the dividend is expected to be well covered in 3 years' time (41% forecast payout ratio). The dividend has increased by an average of 6.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 2,812% to bring the payout ratio under control. EPS is expected to grow by 216% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Feb 03
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: US$0.02 (down from US$0.72 in FY 2024). Revenue: US$146.9m (up 16% from FY 2024). Net income: US$796.0k (down 97% from FY 2024). Profit margin: 0.5% (down from 24% in FY 2024). Net interest margin (NIM): 2.55% (up from 2.10% in FY 2024). Cost-to-income ratio: 84.2% (up from 65.9% in FY 2024). Non-performing loans: 0.42% (down from 0.51% in FY 2024). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 98%. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$13.79, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Banks industry in the US. Total returns to shareholders of 7.3% over the past three years. Price Target Changed • Oct 29
Price target decreased by 7.7% to US$12.00 Down from US$13.00, the current price target is provided by 1 analyst. New target price is 17% above last closing price of US$10.24. Stock is down 14% over the past year. The company is forecast to post earnings per share of US$0.98 for next year compared to US$0.72 last year. Declared Dividend • Oct 26
Third quarter dividend of US$0.13 announced Dividend of US$0.13 is the same as last year. Ex-date: 5th November 2025 Payment date: 19th November 2025 Dividend yield will be 4.8%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 6.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 28% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 23
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: US$0.27 (up from US$0.16 in 3Q 2024). Revenue: US$38.2m (up 30% from 3Q 2024). Net income: US$10.8m (up 65% from 3Q 2024). Profit margin: 28% (up from 22% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.8%. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Price Target Changed • Oct 16
Price target increased by 11% to US$13.00 Up from US$11.75, the current price target is provided by 1 analyst. New target price is 23% above last closing price of US$10.56. Stock is down 17% over the past year. The company is forecast to post earnings per share of US$0.98 for next year compared to US$0.72 last year. Declared Dividend • Jul 27
Second quarter dividend of US$0.13 announced Dividend of US$0.13 is the same as last year. Ex-date: 6th August 2025 Payment date: 20th August 2025 Dividend yield will be 4.8%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 6.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 30% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 25
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.24 (up from US$0.14 in 2Q 2024). Revenue: US$36.8m (up 14% from 2Q 2024). Net income: US$9.57m (up 61% from 2Q 2024). Profit margin: 26% (up from 19% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.6%. Earnings per share (EPS) also surpassed analyst estimates by 6.7%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. New Risk • Jul 24
New major risk - Revenue and earnings growth Earnings have declined by 9.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 9.4% per year over the past 5 years. Minor Risk Significant insider selling over the past 3 months (US$144k sold). New Risk • Jul 03
New major risk - Revenue and earnings growth Earnings have declined by 7.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.0% per year over the past 5 years. Minor Risk Significant insider selling over the past 3 months (US$144k sold). New Risk • Jun 22
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$144k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$11.64, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 10x in the Banks industry in the US. Total returns to shareholders of 2.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$13.00 per share. Major Estimate Revision • May 01
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$127.6m to US$134.6m. EPS estimate increased from US$0.843 to US$0.96 per share. Net income forecast to grow 29% next year vs 13% growth forecast for Banks industry in the US. Consensus price target broadly unchanged at US$12.67. Share price rose 6.2% to US$10.68 over the past week. Declared Dividend • Apr 27
First quarter dividend of US$0.13 announced Dividend of US$0.13 is the same as last year. Ex-date: 7th May 2025 Payment date: 21st May 2025 Dividend yield will be 5.2%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 27% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 25
Northfield Bancorp, Inc. (Staten Island, NY) (NasdaqGS:NFBK) announces an Equity Buyback for $10 million worth of its shares. Northfield Bancorp, Inc. (Staten Island, NY) (NasdaqGS:NFBK) announces a share repurchase program. Under the program, the company will repurchase up to $10 million worth of its shares. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes. Reported Earnings • Apr 24
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$0.19 (up from US$0.15 in 1Q 2024). Revenue: US$32.2m (up 4.5% from 1Q 2024). Net income: US$7.88m (up 27% from 1Q 2024). Profit margin: 24% (up from 20% in 1Q 2024). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 6.7%. Earnings per share (EPS) also surpassed analyst estimates by 7.5%. Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Apr 24
Northfield Bancorp, Inc. Declares Cash Dividend, Payable on May 21, 2025 Northfield Bancorp, Inc. announced that the Board of Directors has declared a cash dividend of $0.13 per common share, payable on May 21, 2025 to stockholders of record on May 7, 2025. Announcement • Apr 15
Northfield Bancorp, Inc. (Staten Island, NY), Annual General Meeting, May 28, 2025 Northfield Bancorp, Inc. (Staten Island, NY), Annual General Meeting, May 28, 2025. Reported Earnings • Mar 05
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$0.72 (down from US$0.86 in FY 2023). Revenue: US$127.0m (down 6.1% from FY 2023). Net income: US$29.9m (down 21% from FY 2023). Profit margin: 24% (down from 28% in FY 2023). Net interest margin (NIM): 2.10% (down from 2.35% in FY 2023). Cost-to-income ratio: 65.9% (up from 61.1% in FY 2023). Non-performing loans: 0.51% (up from 0.27% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Feb 28
Northfield Bancorp, Inc. (Staten Island, NY) (NasdaqGS:NFBK) announces an Equity Buyback for $5 million worth of its shares. Northfield Bancorp, Inc. (Staten Island, NY) (NasdaqGS:NFBK) announces a share repurchase program. Under the program, the company will repurchase up to $5 million worth of its shares. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes. Recent Insider Transactions • Feb 23
Independent Director recently sold US$131k worth of stock On the 19th of February, Gil Chapman sold around 11k shares on-market at roughly US$11.89 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$289k. Despite this recent sale, insiders have collectively bought US$175k more than they sold in the last 12 months. Recent Insider Transactions Derivative • Feb 20
Independent Director notifies of intention to sell stock Gil Chapman intends to sell 11k shares in the next 90 days after lodging an Intent To Sell Form on the 19th of February. If the sale is conducted around the recent share price of US$11.89, it would amount to US$131k. Since March 2024, Gil's direct individual holding has increased from 68.79k shares to 73.42k. Company insiders have collectively bought US$306k more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • Jan 26
Fourth quarter dividend of US$0.13 announced Dividend of US$0.13 is the same as last year. Ex-date: 5th February 2025 Payment date: 19th February 2025 Dividend yield will be 4.5%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (72% payout ratio) and is expected to be covered in 3 years' time (42% forecast payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 62% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 24
Northfield Bancorp, Inc. Announces Net Charge Off for Fourth Quarter Ended December 31, 2024 Northfield Bancorp, Inc. announced net charge off for fourth quarter ended December 31, 2024. Net charge-offs were $2.0 million, compared to net charge-offs of $1.2 million for the quarter ended December 31, 2023, and included $1.6 million and $992,000 in charge-offs on small business unsecured commercial and industrial loans, for the quarters ended December 31, 2024 and 2023, respectively. Reported Earnings • Jan 23
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$0.72 (down from US$0.86 in FY 2023). Revenue: US$127.0m (down 6.1% from FY 2023). Net income: US$29.9m (down 21% from FY 2023). Profit margin: 24% (down from 28% in FY 2023). Net interest margin (NIM): 2.10% (down from 2.35% in FY 2023). Cost-to-income ratio: 56.8% (down from 61.1% in FY 2023). Non-performing loans: 0.51% (up from 0.27% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 7.1% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Dec 19
Independent Director recently sold US$289k worth of stock On the 16th of December, Annette Catino sold around 22k shares on-market at roughly US$13.12 per share. This transaction amounted to 7.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$310k more than they sold in the last 12 months. Price Target Changed • Dec 04
Price target increased by 10% to US$13.75 Up from US$12.50, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of US$13.26. Stock is up 25% over the past year. The company is forecast to post earnings per share of US$0.63 for next year compared to US$0.86 last year. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$13.77, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Banks industry in the US. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$18.47 per share. Declared Dividend • Oct 27
Third quarter dividend of US$0.13 announced Dividend of US$0.13 is the same as last year. Ex-date: 6th November 2024 Payment date: 20th November 2024 Dividend yield will be 4.5%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (81% payout ratio) and is expected to be covered in 3 years' time (42% forecast payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 82% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 24
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: US$0.16 (down from US$0.19 in 3Q 2023). Revenue: US$29.3m (down 7.5% from 3Q 2023). Net income: US$6.52m (down 20% from 3Q 2023). Profit margin: 22% (down from 26% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) exceeded analyst estimates by 2.1%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Declared Dividend • Jul 28
Second quarter dividend of US$0.13 announced Dividend of US$0.13 is the same as last year. Ex-date: 7th August 2024 Payment date: 21st August 2024 Dividend yield will be 4.1%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 25% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 25
Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2024 results: EPS: US$0.14 (down from US$0.22 in 2Q 2023). Revenue: US$32.2m (down 5.3% from 2Q 2023). Net income: US$5.96m (down 38% from 2Q 2023). Profit margin: 19% (down from 28% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Jul 25
Northfield Bancorp, Inc. Declares Cash Dividend, Payable on August 21, 2024 The Board of Directors of Northfield Bancorp, Inc. has declared a cash dividend of $0.13 per common share, payable on August 21, 2024, to stockholders of record on August 7, 2024. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$10.86, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Banks industry in the US. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$16.17 per share. Announcement • Jun 15
Northfield Bancorp, Inc. (Staten Island, NY) (NasdaqGS:NFBK) announces an Equity Buyback for $10 million worth of its shares. Northfield Bancorp, Inc. (Staten Island, NY) (NasdaqGS:NFBK) announces a share repurchase program. Under the program, the company will repurchase up to $10 million worth of its shares. The repurchased shares will be held in treasury stock and will be available for general corporate purposes. Recent Insider Transactions • Jun 13
Independent Director recently bought US$75k worth of stock On the 10th of June, Patrick Ryan bought around 10k shares on-market at roughly US$7.53 per share. This transaction amounted to 5.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$242k more in shares than they have sold in the last 12 months. Board Change • May 28
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 8 highly experienced directors. Independent Director Rachana Kulkarni was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • May 01
Price target decreased by 9.5% to US$11.17 Down from US$12.33, the current price target is an average from 3 analysts. New target price is 30% above last closing price of US$8.57. Stock is down 13% over the past year. The company is forecast to post earnings per share of US$0.61 for next year compared to US$0.86 last year. Declared Dividend • Apr 28
First quarter dividend of US$0.13 announced Dividend of US$0.13 is the same as last year. Ex-date: 7th May 2024 Payment date: 22nd May 2024 Dividend yield will be 6.1%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 25
First quarter 2024 earnings: EPS in line with expectations, revenues disappoint First quarter 2024 results: EPS: US$0.15 (down from US$0.26 in 1Q 2023). Revenue: US$30.9m (down 17% from 1Q 2023). Net income: US$6.21m (down 47% from 1Q 2023). Profit margin: 20% (down from 31% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Announcement • Apr 11
Northfield Bancorp, Inc. (Staten Island, NY), Annual General Meeting, May 22, 2024 Northfield Bancorp, Inc. (Staten Island, NY), Annual General Meeting, May 22, 2024, at 10:00 US Eastern Standard Time. Agenda: To consider Election of Directors; to approve the executive compensation described in the Proxy Statement; to consider The ratification of the appointment of Crowe LLP as independent registered public accounting firm for the year ending December 31, 2024; and to consider For such other business as may properly come before the meeting or any adjournment thereof. Reported Earnings • Mar 03
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: US$0.86 (down from US$1.32 in FY 2022). Revenue: US$135.2m (down 16% from FY 2022). Net income: US$37.7m (down 38% from FY 2022). Profit margin: 28% (down from 38% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.8%. Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$11.25, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Banks industry in the US. Total loss to shareholders of 7.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$17.43 per share. Upcoming Dividend • Jan 30
Upcoming dividend of US$0.13 per share at 3.9% yield Eligible shareholders must have bought the stock before 06 February 2024. Payment date: 21 February 2024. Trailing yield: 3.9%. Lower than top quartile of American dividend payers (4.6%). Higher than average of industry peers (3.2%). Declared Dividend • Jan 28
Fourth quarter dividend of US$0.13 announced Dividend of US$0.13 is the same as last year. Ex-date: 6th February 2024 Payment date: 21st February 2024 Dividend yield will be 3.9%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (60% payout ratio) and is expected to be covered in 3 years' time (52% forecast payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 26
Northfield Bancorp, Inc. (Staten Island, NY) Declares Common Share Cash Dividend, Payable on February 21, 2024 Northfield Bancorp, Inc. (Staten Island, NY) declaration of a $0.13 per common share cash dividend payable on February 21, 2024 to stockholders of record as of February 7, 2024. Reported Earnings • Jan 25
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: US$0.86 (down from US$1.32 in FY 2022). Revenue: US$135.2m (down 16% from FY 2022). Net income: US$37.7m (down 38% from FY 2022). Profit margin: 28% (down from 38% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.8%. Revenue is forecast to grow 2.4% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 2% per year. Announcement • Jan 25
Northfield Bancorp, Inc. Appoints Dr. Rachana A. Kulkarni to Its Board of Directors, Effective February 1, 2024 NORTHFIELD BANCORP, INC. announced that its Boards of Directors appointed Dr. Rachana A. Kulkarni as a director of the Company effective February 1, 2024. Dr. Kulkarni is President and Managing Partner of Medicor Cardiology, a leading cardiology group in New Jersey, and Regional Director of Cardiology of Barnabas Health Corp.Dr. Kulkarni, a resident of Skillman, NJ, is Board Certified in Internal Medicine, Cardiology and Nuclear Cardiology. Dr. Kulkarni currently serves in leadership roles on a number of not-for-profit boards, including Akshaya Patra USA. Dr. Kulkarni earned her Medical Degree from the Government Medical College, India, and Rutgers University, her Master’s degree in Business Administration from Auburn University, and Certificate of Management Excellence from Harvard University. Announcement • Nov 09
Northfield Bancorp, Inc. (Staten Island, NY) (NasdaqGS:NFBK) announces an Equity Buyback for $7.5 million worth of its shares. Northfield Bancorp, Inc. (Staten Island, NY) (NasdaqGS:NFBK) announces a share repurchase program. Under the program, the company will repurchase up to $7.5 million of its shares. The repurchased shares will be held in treasury stock and will be available for general corporate purposes. Announcement • Oct 31
Northfield Bancorp, Inc. Declares Cash Dividend, Payable on November 22, 2023 Northfield Bancorp, Inc. announced the declaration of a $0.13 per common share cash dividend payable on November 22, 2023 to stockholders of record as of November 8, 2023. Upcoming Dividend • Oct 31
Upcoming dividend of US$0.13 per share at 6.0% yield Eligible shareholders must have bought the stock before 07 November 2023. Payment date: 22 November 2023. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 6.0%. Within top quartile of American dividend payers (5.4%). Higher than average of industry peers (4.1%). Price Target Changed • Oct 30
Price target decreased by 7.5% to US$10.33 Down from US$11.17, the current price target is an average from 3 analysts. New target price is 19% above last closing price of US$8.65. Stock is down 46% over the past year. The company is forecast to post earnings per share of US$0.84 for next year compared to US$1.32 last year. Reported Earnings • Oct 26
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: US$0.19 (down from US$0.37 in 3Q 2022). Revenue: US$31.6m (down 24% from 3Q 2022). Net income: US$8.18m (down 52% from 3Q 2022). Profit margin: 26% (down from 41% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 1.8%. Revenue is forecast to stay flat during the next 3 years compared to a 4.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Sep 21
Independent Director recently bought US$99k worth of stock On the 19th of September, Patrick Ryan bought around 10k shares on-market at roughly US$9.92 per share. This transaction amounted to 6.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$108k more in shares than they bought in the last 12 months. Upcoming Dividend • Aug 01
Upcoming dividend of US$0.13 per share at 4.3% yield Eligible shareholders must have bought the stock before 08 August 2023. Payment date: 23 August 2023. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.4%). Reported Earnings • Jul 28
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: US$0.22 (down from US$0.34 in 2Q 2022). Revenue: US$33.9m (down 17% from 2Q 2022). Net income: US$9.56m (down 40% from 2Q 2022). Profit margin: 28% (down from 39% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) exceeded analyst estimates by 1.5%. Revenue is expected to decline by 7.1% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 4.4%. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jul 28
Northfield Bancorp, Inc. Declares Cash Dividend, Payable on August 23, 2023 The board of directors of Northfield Bancorp, Inc. has declared a cash dividend of $0.13 per common share, payable August 23, 2023, to stockholders of record on August 9, 2023. Buying Opportunity • Jul 20
Now 20% undervalued Over the last 90 days, the stock is up 7.3%. The fair value is estimated to be US$14.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to decline by 17% in a year. Earnings is forecast to decline by 30% in the next year. Upcoming Dividend • May 02
Upcoming dividend of US$0.13 per share at 5.2% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 5.2%. Within top quartile of American dividend payers (5.0%). Higher than average of industry peers (3.6%). Reported Earnings • Apr 29
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: US$0.26 (down from US$0.30 in 1Q 2022). Revenue: US$37.4m (down 2.1% from 1Q 2022). Net income: US$11.7m (down 17% from 1Q 2022). Profit margin: 31% (down from 37% in 1Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) also missed analyst estimates by 7.1%. Revenue is forecast to stay flat during the next 2 years compared to a 3.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 07
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: US$1.32 (down from US$1.46 in FY 2021). Revenue: US$161.8m (down 8.2% from FY 2021). Net income: US$61.1m (down 14% from FY 2021). Profit margin: 38% (down from 40% in FY 2021). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 2.97% (down from 3.01% in FY 2021). Cost-to-income ratio: 46.3% (down from 46.5% in FY 2021). Non-performing loans: 0.24% (up from 0.21% in FY 2021). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 3.4%. Revenue is expected to decline by 3.3% p.a. on average during the next 2 years, while revenues in the Mortgage industry in the US are expected to grow by 7.7%. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 03
Price target decreased by 9.7% to US$14.67 Down from US$16.25, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of US$14.66. Stock is down 4.5% over the past year. The company is forecast to post earnings per share of US$1.12 for next year compared to US$1.32 last year. Recent Insider Transactions • Feb 02
Independent Director recently sold US$70k worth of stock On the 30th of January, Gil Chapman sold around 5k shares on-market at roughly US$14.52 per share. This transaction amounted to 6.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$190k more than they bought in the last 12 months. Upcoming Dividend • Jan 31
Upcoming dividend of US$0.13 per share at 3.6% yield Eligible shareholders must have bought the stock before 07 February 2023. Payment date: 22 February 2023. Trailing yield: 3.6%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (6.1%). Announcement • Jan 28
Northfield Bancorp, Inc. Declares Cash Dividend, Payable on February 22, 2023 Northfield Bancorp, Inc. announced that the board of directors has declared a cash dividend of $0.13 per common share, payable February 22, 2023, to stockholders of record on February 8, 2023. Reported Earnings • Jan 26
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: US$1.32 (down from US$1.46 in FY 2021). Revenue: US$161.8m (down 8.2% from FY 2021). Net income: US$61.1m (down 14% from FY 2021). Profit margin: 38% (down from 40% in FY 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 3.4%. Revenue is forecast to grow 1.7% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Mortgage industry in the US. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Dec 09
Independent Director notifies of intention to sell stock John Connors intends to sell 6k shares in the next 90 days after lodging an Intent To Sell Form on the 1st of December. If the sale is conducted around the recent share price of US$16.03, it would amount to US$101k. Since March 2022, John's direct individual holding has increased from 183.76k shares to 188.93k. Company insiders have collectively sold US$319k more than they bought, via options and on-market transactions in the last 12 months.