Northfield Bancorp Reports Steady Earnings, While Future Estimates Remain Uncertain
Northfield Bancorp (NFBK) announced its quarterly earnings at $0.16 per share, meeting the Zacks Consensus Estimate. This performance contrasts with earnings of $0.19 per share reported a year earlier, with adjustments made for non-recurring items.
Previous Quarter Performance Surpassed Estimates
Last quarter, analysts anticipated that Northfield Bancorp, which operates Northfield Bank, would report earnings of $0.14 per share. However, the company exceeded expectations by reporting $0.17, resulting in a positive surprise of 21.43%.
Revenue Results Fall Short
For the quarter ending September 2024, Northfield generated revenues of $31.81 million, slightly missing the Zacks Consensus Estimate by 1.53%. This figure is unchanged from the previous year, although the company has exceeded revenue estimates three times over the last four quarters.
Future Earnings and Market Performance
The immediate future of Northfield’s stock prices will depend significantly on insights shared during the earnings call. Year-to-date, Northfield shares have declined by approximately 5.1%, while the S&P 500 index has increased by 22.7%.
Looking Ahead: Analyst Expectations
Investors are keen to know what lies ahead for Northfield. Key to this is the company’s future earnings outlook, including recent consensus expectations for upcoming quarters.
Research indicates a strong link between stock movements and changes in earnings estimates. Investors can either monitor these revisions themselves or utilize a tried-and-true tool like the Zacks Rank. Presently, Northfield’s earnings estimate revisions trend is favorable, earning it a Zacks Rank of #2 (Buy). This suggests the stock could outperform the market soon.
Upcoming Estimates Show Promise
Looking to the near future, current estimates suggest an EPS of $0.18 on revenues of $32.85 million for the next quarter. For the entire fiscal year, the consensus points to earnings of $0.67 on revenues of $127.27 million.
Industry Insights Matter
Investors should also consider the industry’s outlook, as it significantly impacts individual stock performances. The Financial – Savings and Loan industry ranks in the top 22% out of over 250 Zacks sectors, with top performers historically outperforming those in the lower half by a ratio of over 2 to 1.
Comparative Analysis with Provident Financial
Another player in the same sector, Provident Financial (PFS), is scheduled to release its quarterly results on October 29. Analysts predict earnings of $0.46 per share, reflecting a 21.1% increase from last year, and revenues of $211.25 million, an impressive increase of 82.8% compared to the prior year’s quarter.
Considering Northfield for Investment?
For those contemplating an investment in Northfield Bancorp, refer to Zacks Investment Research for insights on top stocks for the upcoming month.
Zacks has been a trusted source for investor research tools since 1978, with its Zacks Rank stock-rating system outperforming the S&P 500 by an average of +24.08% per year from January 1, 1988, to May 6, 2024.
For the latest recommendations and insights, consider downloading Zacks’ report on 5 stocks poised to double. Free analysis reports on Northfield Bancorp, Inc. (NFBK) and Provident Financial Services, Inc (PFS) are also available.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
