On Dec 25, Zacks Investment Research upgraded
Northfield Bancorp, Inc.
) to a Zacks Rank #1 (Strong Buy).
GREAT SOUTH BCP (GSBC): Free Stock Analysis
INVESTORS BANCP (ISBC): Free Stock Analysis
NORTHFIELD BNCP (NFBK): Free Stock Analysis
TECHE HOLDING (TSH): Free Stock Analysis
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Why the Upgrade?
Northfield Bancorp has witnessed positive estimate revisions on
the back of strong third-quarter 2013 results. Further, the
company has delivered positive earnings surprises in 3 of the
last 4 quarters, with an average beat of 9.53%. Moreover, the
long-term expected earnings growth rate for this stock is 5%.
On Oct 23, Northfield Bancorp reported third-quarter results with
earnings per share of 9 cents beating the Zacks Consensus
Estimate by 28.7%.
Results benefited from increased revenues, partially offset by
higher operating expenses and a rise in provision for credit
Net interest income rose 13.7% year over year to $19.3 million.
Moreover, non-interest income increased 51.3% to $2.6 million. On
the flip side, non-interest expense rose 10.7% from the
prior-year quarter to $13.3 million.
Further, asset quality was a mixed bag. Non-performing assets
decreased 16.6% from the prior quarter to $20.2 million. However,
provisions for loan losses of $0.8 million were up 96.0%
Additionally, the Zacks Consensus Estimate for 2013 and 2014
increased marginally to 32 cents per share and 31 cents per
Positive earnings surprises and favorable estimate revisions
stimulated the rank upgrade.
Other Stocks to Consider
Besides Lazard, other saving and loan institutes worth
Investors Bancorp Inc.
Great Southern Bancorp Inc.
Teche Holding Company
). All these stocks carry the same Zacks Rank as Northfield