Piper Sandler Upgrades Northfield Bancorp, Inc. (NFBK)
Analyst Upgrade: Piper Sandler upgraded Northfield Bancorp, Inc. from Neutral to Overweight on May 2, 2025, with a projected one-year price target of $12.75/share, indicating a potential upside of 9.63% from its current price.
Institutional Ownership Trends: There has been a slight increase in institutional ownership of Northfield Bancorp, with 341 funds reporting positions and an overall increase in shares owned by institutions by 2.79% over the last three months.
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Northfield Bancorp, Inc. Reports Advance In Q2 Bottom Line
Earnings Report: Northfield Bancorp, Inc. reported a second-quarter earnings increase to $9.57 million ($0.24 per share), up from $7.88 million ($0.19 per share) last year.
Revenue Growth: The company's revenue rose by 3.9% to $62.43 million compared to $60.09 million in the same period last year.
Northfield Bancorp, Inc. Announces Second Quarter 2025 Results
Financial Performance: Northfield Bancorp, Inc. reported a significant increase in net income to $17.4 million for the first half of 2025, driven by higher net interest income and improved asset quality, with diluted earnings per share rising to $0.24 from $0.19 in the previous quarter.
Asset Management and Liquidity: The bank maintained strong liquidity with over $800 million in unpledged securities, while total assets slightly increased to $5.68 billion, despite a decline in loans held-for-investment and total deposits due to reduced reliance on brokered deposits.
