NB Bancorp (NASDAQ:NBBK) Sets New 1-Year High – Here’s What Happened

Shares of NB Bancorp, Inc. (NASDAQ:NBBK) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.83 and last traded at $22.8560, with a volume of 74229 shares traded. The stock had previously closed at $22.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NBBK shares. Zacks Research downgraded shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Piper Sandler reiterated an “overweight” rating and issued a $24.00 price target on shares of NB Bancorp in a research report on Monday, March 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NB Bancorp in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, NB Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

NB Bancorp Trading Up 1.1%

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 business’s 50-day moving average price is $21.51 and its two-hundred day moving average price is $20.16. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.79 and a beta of 0.37.

NB Bancorp (NASDAQ:NBBK) last released its quarterly 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. The company had revenue of $63.36 million during the quarter, compared to the consensus estimate of $75.75 million. NB Bancorp had a net margin of 14.30% and a return on equity of 8.58%. Research analysts predict that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

NB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 5th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, February 5th. NB Bancorp’s dividend payout ratio (DPR) is 20.90%.

Insider Transactions at NB Bancorp

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Pertento Partners LLP increased its stake in NB Bancorp by 10.9% in the fourth quarter. Pertento Partners LLP now owns 2,343,776 shares of the company’s stock valued at $46,454,000 after acquiring an additional 229,440 shares during the last quarter. Vanguard Group Inc. increased its stake in NB Bancorp by 18.0% in the fourth 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 last quarter. Geode Capital Management LLC increased its stake in NB Bancorp by 10.3% in the fourth quarter. Geode Capital Management LLC now owns 966,662 shares of the company’s stock valued at $19,162,000 after acquiring an additional 90,014 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in NB Bancorp by 27.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock valued at $12,266,000 after acquiring an additional 148,472 shares during the last quarter. Finally, AltraVue Capital LLC bought a new position in NB Bancorp in the fourth quarter valued at approximately $13,735,000.

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.