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Northfield Bancorp (NFBK) Matches Q3 Earnings Estimates
NFBKNorthfield Bancorp(NFBK) ZACKS·2024-10-24 01:20

Core Viewpoint - Northfield Bancorp reported quarterly earnings of 0.16pershare,matchingtheZacksConsensusEstimate,butdownfrom0.16 per share, matching the Zacks Consensus Estimate, but down from 0.19 per share a year ago [1] - The company posted revenues of 31.81millionforthequarterendedSeptember2024,missingtheZacksConsensusEstimateby1.5331.81 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.53% [1] Earnings Performance - Northfield's earnings of 0.16 per share were in line with expectations, while the previous quarter's earnings were 0.17,exceedingtheestimateby21.430.17, exceeding the estimate by 21.43% [1][2] - Over the last four quarters, Northfield has surpassed consensus EPS estimates two times [1] Revenue Analysis - The company's revenues of 31.81 million for the recent quarter were unchanged from the previous year and missed the consensus estimate [1] - Northfield has topped consensus revenue estimates three times over the last four quarters [1] Future Outlook - The current consensus EPS estimate for the upcoming quarter is 0.18onrevenuesof0.18 on revenues of 32.85 million, and for the current fiscal year, it is 0.67onrevenuesof0.67 on revenues of 127.27 million [4] - The estimate revisions trend for Northfield is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [4] Industry Context - The Financial - Savings and Loan industry, to which Northfield belongs, is currently in the top 22% of over 250 Zacks industries, suggesting a positive outlook for stocks in this sector [5] - Another company in the same industry, Provident Financial, is expected to report quarterly earnings of $0.46 per share, reflecting a year-over-year increase of 21.1% [5]