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Chapman Gil, a director at Northfield Bancorp, Inc. (NASDAQ:NFBK), recently sold a significant portion of the company’s common stock. According to a recent SEC filing, Gil sold 11,000 shares on February 19, 2025, at a weighted average price of $11.89 per share, resulting in a total transaction value of approximately $130,790. Following this sale, Gil holds 48,005 shares directly. The transaction occurred near the stock’s current trading price of $11.61, with InvestingPro analysis indicating the company is currently undervalued.
The sale was conducted at prices ranging from $11.80 to $11.98 per share. It’s important to note that Gil also maintains indirect ownership through individual retirement accounts (IRAs), with 7,651 shares held by IRA 1 and 6,763 shares by a spouse’s IRA. Additionally, Gil retains 32,000 stock options, with an exercise price of $14.76, set to expire on May 27, 2025. The $498 million market cap company has maintained dividend payments for 18 consecutive years, with a current yield of 4.3%.
These transactions provide insight into insider activity at Northfield Bancorp, which could be of interest to investors monitoring the company’s stock movements. InvestingPro subscribers can access additional insights, including 12 more exclusive ProTips and detailed financial health metrics to make more informed investment decisions.
In other recent news, Northfield Bancorp reported a 27% quarter-over-quarter increase in deposit growth and a 10 basis point expansion in net interest margin (NIM). Despite these positive financial indicators, the company experienced a 4% decline in loan volumes. DA Davidson, maintaining a Neutral rating, adjusted its price target for Northfield Bancorp to $13.00, down from $14.00, due to a slower growth trajectory and fewer anticipated interest rate cuts. The firm noted the company’s strategic management of growth to conserve capital, with a tangible common equity (TCE) ratio of 11.8%. Analysts at DA Davidson forecast continued NIM expansion and a potential rebound in loan growth by 2025. Additionally, Northfield Bancorp announced new equity awards for directors and employees under its 2019 Equity Incentive Plan. The awards include 238,008 restricted shares and 59,735 performance-based restricted stock units, designed to align the interests of directors and employees with those of shareholders. These equity grants are part of Northfield Bancorp’s strategy to incentivize and retain key personnel, as detailed in a recent SEC filing.
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