Is Northfield Bancorp, Inc. (New Jersey) overvalued or undervalued?

As of 10 October 2025, the valuation grade for Northfield Bancorp, Inc. has moved from attractive to very attractive, indicating a positive shift in its perceived value. The company appears to be undervalued, with a P/E ratio of 22, which is significantly higher than peers like TrustCo Bank Corp. NY at 14.54 and Southern Missouri Bancorp, Inc. at 11.64. Additionally, Northfield's Price to Book Value stands at 0.98, suggesting it is trading close to its book value, while its EV to EBITDA ratio of 33.64 further highlights its valuation relative to earnings.
In comparison to its peers, Northfield Bancorp's PEG ratio of 7.52 is notably high, indicating that it may be overvalued on a growth-adjusted basis compared to Southern Missouri Bancorp's PEG of 0.66. Despite the attractive valuation grade, the stock has underperformed against the S&P 500, with a year-to-date return of -6.54% compared to the index's 11.41%, and a three-year return of -24.84% versus 81.39% for the S&P 500, reinforcing the notion that the stock may still be undervalued in the current market context.