Northfield Bancorp (NFBK) got here out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.10 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 40.74%. 1 / 4 in the past, it was anticipated that this holding firm for Northfield Financial institution would publish earnings of $0.20 per share when it really produced earnings of $0.29, delivering a shock of 45%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 instances.
Northfield, which belongs to the Zacks Monetary – Financial savings and Mortgage business, posted revenues of $42.81 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 10.83%. This compares to year-ago revenues of $30.04 million. The corporate has topped consensus income estimates 4 instances over the past 4 quarters.
The sustainability of the inventory’s quick worth 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 31% because the starting of the 12 months versus the S&P 500’s achieve of 11.5%.
What’s Subsequent for Northfield?
Whereas Northfield has outperformed the market to this point this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist traders deal with that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified these days.
Empirical analysis exhibits a robust correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a formidable observe file of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Northfield was favorable. Whereas the magnitude and path of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #1 (Sturdy Purchase) for the inventory. So, the shares are anticipated to outperform the market within the close to future. You may see the entire listing of at this time’s Zacks #1 Rank (Sturdy Purchase) shares right here.
Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.27 on $38.97 million in revenues for the approaching quarter and $1.02 on $153.69 million in revenues for the present fiscal 12 months.
Traders must be conscious of the truth that the outlook for the business can have a cloth impression on the efficiency of the inventory as effectively. By way of the Zacks Business Rank, Monetary – Financial savings and Mortgage is at the moment within the prime 13% of the 250 plus Zacks industries. Our analysis exhibits 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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Northfield Bancorp, Inc. (NFBK): Free Inventory Evaluation Report
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