Overview

* Regional lender Northfield Bancorp's ( NFBK ) Q3 diluted EPS rises to $0.27 from $0.16 last year

* Net interest income for Q3 increases to $34.5 mln, up 22.3% from last year

* Company declares a cash dividend of $0.13 per share, payable on November 19

Outlook

* Northfield Bancorp ( NFBK ) did not provide specific future guidance

Result Drivers

* NET INTEREST INCOME - Increase driven by higher yields on loans and securities and a drop in cost of interest-bearing liabilities

* REDUCED CREDIT PROVISIONS - Decrease in provision for credit losses on loans contributed to improved net income

* DEPOSIT GROWTH - Deposits, excluding brokered, increased by $32.6 million sequentially

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.27

Q3 Net $10.8

Income mln

Q3 Net $34.5

Interest mln

Income

Q3 $0.13

Dividend

Q3 Net 2.54%

Interest

Margin

Analyst Coverage

* The one available analyst rating on the shares is "hold"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Northfield Bancorp ( NFBK ) is $13.00, about 15.7% above its October 21 closing price of $10.96

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

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(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.)