NB Bancorp (NASDAQ:NBBK) Sets New 52-Week High – Should You Buy?

Shares of NB Bancorp, Inc. (NASDAQ:NBBKGet Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.00 and last traded at $23.1860, with a volume of 5176 shares changing hands. The stock had previously closed at $22.75.

Wall Street Analyst Weigh In

A number of research firms recently commented on NBBK. Keefe, Bruyette & Woods lifted their price target on NB Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Piper Sandler upped their price objective on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen raised NB Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Zacks Research upgraded NB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, NB Bancorp currently has a consensus rating of “Buy” and an average price target of $25.50.

Read Our Latest Stock Analysis on NB Bancorp

NB Bancorp Stock Performance

The company has a fifty day moving average of $21.30 and a two-hundred day moving average of $21.13. The firm has a market capitalization of $1.01 billion and a price-to-earnings ratio of 15.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.07.

NB Bancorp (NASDAQ:NBBKGet Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. NB Bancorp had a return on equity of 9.21% and a net margin of 14.27%. As a group, equities research analysts predict that NB Bancorp, Inc. will post 2.13 earnings per share for the current fiscal year.

NB Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. NB Bancorp’s dividend payout ratio is 18.54%.

Insider Buying and Selling

In other NB Bancorp news, CEO Joseph P. Campanelli purchased 3,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $19.18 per share, with a total value of $57,540.00. Following the completion of the transaction, the chief executive officer owned 377,790 shares in the company, valued at $7,246,012.20. The trade was a 0.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of NB Bancorp by 18.0% during the 4th quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock valued at $45,606,000 after acquiring an additional 350,899 shares during the period. Legato Capital Management LLC bought a new position in shares of NB Bancorp in the fourth quarter worth $3,396,000. Dimensional Fund Advisors LP increased its position in shares of NB Bancorp by 81.4% in the first quarter. Dimensional Fund Advisors LP now owns 522,384 shares of the company’s stock worth $11,006,000 after purchasing an additional 234,356 shares during the period. OP Asset Management Ltd acquired a new position in NB Bancorp in the first quarter valued at about $1,230,000. Finally, Tieton Capital Management LLC acquired a new position in NB Bancorp in the fourth quarter valued at about $10,404,000.

About NB Bancorp

(Get Free Report)

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.

Further Reading

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