Overview

* Northfield Bancorp ( NFBK ) 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/Mis Actual Consensu

s s

Estimate

Q2 EPS $0.24

Q2 Net $9.60

Income mln

Q2 Net $34.40

Interest mln

Income

Q2 $0.13

Dividend

Q2 Net 2.6%

Interest

Margin

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 ( NFBK ) 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:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)