Northfield Bancorp (NFBK) got here out with quarterly earnings of $0.40 per share, beating the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.24 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 37.93%. 1 / 4 in the past, it was anticipated that this holding firm for Northfield Financial institution would publish earnings of $0.27 per share when it truly produced earnings of $0.38, delivering a shock of 40.74%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
Northfield, which belongs to the Zacks Monetary – Financial savings and Mortgage business, posted revenues of $43.6 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 7.29%. This compares to year-ago revenues of $34.47 million. The corporate has topped consensus income estimates 4 occasions over the past 4 quarters.
The sustainability of the inventory’s quick value motion based mostly on the recently-released numbers and future earnings expectations will largely rely on administration’s commentary on the earnings name.
Northfield shares have added about 29.1% for the reason that starting of the 12 months versus the S&P 500’s achieve of 17.2%.
What’s Subsequent for Northfield?
Whereas Northfield has outperformed the market thus far this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified currently.
Empirical analysis reveals a powerful correlation between near-term inventory actions and traits in earnings estimate revisions. Buyers can observe such revisions by themselves or depend on a tried-and-tested score device just like the Zacks Rank, which has a formidable observe file of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Northfield was blended. Whereas the magnitude and route of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in step with the market within the close to future. You’ll be able to see the entire checklist of as we speak’s Zacks #1 Rank (Robust Purchase) shares right here.
It is going to be fascinating to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.29 on $39.73 million in revenues for the approaching quarter and $1.21 on $162.27 million in revenues for the present fiscal 12 months.
Buyers must be aware of the truth that the outlook for the business can have a fabric impression on the efficiency of the inventory as properly. By way of the Zacks Trade Rank, Monetary – Financial savings and Mortgage is at the moment within the high 32% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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