Northfield Bancorp Q2 EPS rises
Overview
Northfield Bancorp Q2 diluted EPS $0.24, compared with $0.14 year ago
Net interest margin improves by 19 basis points to 2.57%
Co completes $10 mln stock repurchase plan during the qtr
Result Drivers
NET INTEREST INCOME - Increase driven by lower funding costs and higher yields on loans and securities
ASSET QUALITY - Improved with non-performing loans to total loans decreasing to 0.36%
STRATEGIC INITIATIVES - Focused on prudent lending and deposit gathering, per CEO Steven M. Klein
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.24 |
|
Q2 Net Income |
| $9.60 mln |
|
Q2 Net Interest Income |
| $34.40 mln |
|
Q2 Dividend |
| $0.13 |
|
Q2 Net Interest Margin |
| 2.6% |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for Northfield Bancorp Inc is $12.00, about 5.3% above its July 23 closing price of $11.36
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago
Press Release: ID:nGNX77YR7L
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