NB Bancorp (NASDAQ:NBBK – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01, FiscalAI reports. NB Bancorp had a net margin of 14.27% and a return on equity of 9.13%. The firm had revenue of $76.55 million for the quarter.
NB Bancorp Price Performance
Shares of NB Bancorp stock traded up $0.24 during midday trading on Thursday, hitting $22.37. 147,050 shares of the company were exchanged, compared to its average volume of 302,591. The firm has a 50 day simple moving average of $22.56 and a 200-day simple moving average of $21.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.06 and a quick ratio of 1.05. The firm has a market cap of $980.21 million and a P/E ratio of 14.81. NB Bancorp has a 52 week low of $16.92 and a 52 week high of $23.47.
NB Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were paid a $0.07 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. NB Bancorp’s dividend payout ratio is currently 18.54%.
Wall Street Analyst Weigh In
NBBK has been the subject of a number of recent research reports. Wall Street Zen downgraded NB Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Piper Sandler boosted their price target on NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded NB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Keefe, Bruyette & Woods lifted their price target on shares of NB Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Finally, Zacks Research lowered shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, NB Bancorp presently has an average rating of “Moderate Buy” and an average price target of $25.50.
Get Our Latest Analysis on NBBK
Insider Buying and Selling at NB Bancorp
In other news, CEO Joseph Campanelli acquired 2,000 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average cost of $21.75 per share, with a total value of $43,500.00. Following the acquisition, the chief executive officer owned 379,790 shares of the company’s stock, valued at $8,260,432.50. This trade represents a 0.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.10% of the stock is currently owned by corporate insiders.
Institutional Trading of NB Bancorp
A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp lifted its holdings in NB Bancorp by 13.8% during the second quarter. State Street Corp now owns 1,471,766 shares of the company’s stock worth $31,098,000 after acquiring an additional 178,228 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of NB Bancorp in the second quarter worth about $224,000. Corient Private Wealth LP bought a new stake in shares of NB Bancorp in the second quarter worth about $221,000. Empowered Funds LLC raised its position in shares of NB Bancorp by 7.7% during the second quarter. Empowered Funds LLC now owns 181,399 shares of the company’s stock worth $3,833,000 after purchasing an additional 13,005 shares during the period. Finally, Raffles Associates LP raised its position in shares of NB Bancorp by 114.3% during the second quarter. Raffles Associates LP now owns 31,874 shares of the company’s stock worth $673,000 after purchasing an additional 17,000 shares during the period.
About NB Bancorp
NB Bancorp, Inc is the bank holding company for Needham Bank, a community-oriented financial institution headquartered in Needham, Massachusetts. Through Needham Bank, the company provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities.
Needham Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, construction financing, consumer loans, cash-management services and other treasury-management solutions.
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