Price Action To Observe: Is Buying 52-Week Stock Like Northfield Bancorp, Inc. a Winning Strategy?

Price Action To Observe: Is Buying 52 Week Stock Like Northfield Bancorp, Inc. a Winning Strategy?

The stock of Northfield Bancorp, Inc. (NASDAQ:NFBK) hit a new 52-week high and has $23.87 target or 31.00% above today’s $18.22 share price. The 6 months bullish chart indicates low risk for the $849.28M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $23.87 price target is reached, the company will be worth $263.28 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 3.70% or $0.65 during the last trading session, hitting $18.22. About 323,190 shares traded hands or 313.26% up from the average. Northfield Bancorp, Inc. (NASDAQ:NFBK) has risen 7.46% since April 11, 2016 and is uptrending. It has outperformed by 1.32% the S&P500.

Northfield Bancorp, Inc. (NASDAQ:NFBK) Ratings Coverage

Out of 4 analysts covering Northfield Bancorp (NASDAQ:NFBK), 0 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 0 are positive. Northfield Bancorp has been the topic of 5 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Northfield Bancorp, Inc. (NASDAQ:NFBK) has “Hold” rating given on Tuesday, July 21 by Jefferies. The stock of Northfield Bancorp, Inc. (NASDAQ:NFBK) has “Neutral” rating given on Thursday, April 14 by Piper Jaffray. The stock of Northfield Bancorp, Inc. (NASDAQ:NFBK) earned “Hold” rating by Zacks on Wednesday, August 26. The firm has “Market Perform” rating given on Friday, August 12 by Hovde Group.

According to Zacks Investment Research, “NORTHFIELD Building Loan and Savings Association in the village of Mariners Harbor, Town of Northfield, County of Richmond, by a group of Staten Islanders for the purpose of rendering mutual aid to each other, and to those who shall hereafter be associated with us.”

Insitutional Activity: The institutional sentiment increased to 1.05 in Q2 2016. Its up 0.43, from 0.62 in 2016Q1. The ratio is positive, as 4 funds sold all Northfield Bancorp, Inc. shares owned while 38 reduced positions. 4 funds bought stakes while 40 increased positions. They now own 23.69 million shares or 5.07% less from 24.95 million shares in 2016Q1.
Kbc Nv owns 14,028 shares or 0% of their US portfolio. Hutchin Hill Cap Limited Partnership accumulated 138,500 shares or 0.07% of the stock. Bancorp Of Montreal Can holds 0% or 855 shares in its portfolio. Qs Invsts Limited Liability reported 2,400 shares or 0% of all its holdings. Susquehanna Gru Llp last reported 14,046 shares in the company. Acadian Asset Mngmt Limited Co accumulated 0.04% or 476,243 shares. California State Teachers Retirement Sys owns 88,272 shares or 0% of their US portfolio. Swiss Comml Bank accumulated 80,500 shares or 0% of the stock. Aperio Grp Ltd Liability last reported 15,667 shares in the company. Price T Rowe Incorporated Md reported 13,531 shares or 0% of all its holdings. Goldman Sachs holds 63,336 shares or 0% of its portfolio. Numeric Invsts Limited Com has 0% invested in the company for 16,000 shares. Schwab Charles Inc, a California-based fund reported 157,650 shares. Citadel Advsrs Ltd Company owns 46,507 shares or 0% of their US portfolio. Ubs Asset Management Americas Inc last reported 0% of its portfolio in the stock.

Another recent and important Northfield Bancorp, Inc. (NASDAQ:NFBK) news was published by Nj.com which published an article titled: “HVCBank announces merger with Northfield Bancorp, Inc.” on August 27, 2015.

NFBK Company Profile

Northfield Bancorp, Inc., incorporated on June 4, 2010, is the bank holding firm for Northfield Bank (the Bank). The Bank is a federally chartered savings bank. The Bank’s principal business consists of originating multifamily and other commercial real estate loans, purchasing investment securities, including mortgage-backed securities and corporate bonds, and to a lesser extent depositing funds in other financial institutions. In addition, the Bank refers its clients to independent third parties that provide non-deposit investment products, and one- to four-family residential mortgage products.

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