NB Bancorp (NASDAQ:NBBK) Trading 2% Higher – What’s Next?

NB Bancorp, Inc. (NASDAQ:NBBK)’s share price traded up 2% during mid-day trading on Thursday . The stock traded as high as $22.69 and last traded at $22.64. 334,447 shares were traded during trading, an increase of 54% from the average session volume of 216,680 shares. The stock had previously closed at $22.19.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Zacks Research lowered NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Piper Sandler reiterated an “overweight” rating and set a $24.00 price objective on shares of NB Bancorp in a research note on Monday, March 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NB Bancorp in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.00.

NB Bancorp Stock Performance

The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 16.72 and a beta of 0.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.08 and a quick ratio of 1.06. The stock has a 50 day moving average price of $21.49 and a two-hundred day moving average price of $20.04.

NB Bancorp (NASDAQ:NBBK) last announced its earnings results on Thursday, January 22nd. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.71. NB Bancorp had a return on equity of 8.58% and a net margin of 14.30%.The company had revenue of $63.36 million during the quarter, compared to analyst estimates of $75.75 million. On average, analysts predict that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.

NB Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 5th were issued a $0.07 dividend. The ex-dividend date was Thursday, February 5th. This represents a $0.28 annualized dividend and a yield of 1.3%. NB Bancorp’s dividend payout ratio (DPR) is currently 20.90%.

Insider Transactions at NB Bancorp

In other news, CEO Joseph P. Campanelli purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average price of $20.77 per share, for a total transaction of $103,850.00. Following the completion of the acquisition, the chief executive officer directly owned 47,000 shares in the company, valued at approximately $976,190. The trade was a 11.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 8,500 shares of company stock valued at $174,670 in the last quarter. 5.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On NB Bancorp

Several hedge funds have recently added to or reduced their stakes in NBBK. EverSource Wealth Advisors LLC boosted its holdings in NB Bancorp by 75.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock valued at $25,000 after acquiring an additional 553 shares during the last quarter. State of Alaska Department of Revenue bought a new position in NB Bancorp in the third quarter valued at about $28,000. Kestra Advisory Services LLC bought a new position in NB Bancorp in the fourth quarter valued at about $46,000. CWM LLC boosted its holdings in NB Bancorp by 169.7% in the third quarter. CWM LLC now owns 3,457 shares of the company’s stock valued at $61,000 after acquiring an additional 2,175 shares during the last quarter. Finally, SHP Wealth Management bought a new position in NB Bancorp in the fourth quarter valued at about $68,000.

NB Bancorp Company Profile

NB Bancorp, Inc (NASDAQ: NBBK) is the bank holding company for NB Bank, N.A., a full-service community bank headquartered in Newburyport, Massachusetts. Through a network of branches across Northeast Massachusetts and southern New Hampshire, the company offers deposit and lending services tailored to individuals and small- to medium-sized businesses.

The company’s core product lineup includes checking and savings accounts, money market deposits and certificates of deposit, along with residential mortgage loans, home equity lines of credit and commercial lending solutions.