NB Bancorp (NASDAQ:NBBK) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

NB Bancorp (NASDAQ:NBBKGet Free Report) issued its earnings results on Wednesday. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07, FiscalAI reports. NB Bancorp had a net margin of 13.81% and a return on equity of 8.57%. The firm had revenue of $74.70 million during the quarter, compared to analyst estimates of $72.74 million.

NB Bancorp Stock Performance

NB Bancorp stock opened at $21.09 on Thursday. The company’s 50-day moving average price is $20.47 and its 200-day moving average price is $20.84. NB Bancorp has a twelve month low of $16.76 and a twelve month high of $22.86. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. The company has a market cap of $942.93 million, a PE ratio of 15.39 and a beta of 0.03.

NB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. NB Bancorp’s payout ratio is 20.44%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Zacks Research upgraded shares of NB Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings raised shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Finally, Piper Sandler cut their price objective on NB Bancorp from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, NB Bancorp has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Check Out Our Latest Stock Report on NB Bancorp

Insider Transactions at NB Bancorp

In related news, Director Hope Pascucci acquired 20,000 shares of NB Bancorp stock in a transaction on Friday, April 24th. The shares were bought at an average cost of $19.46 per share, with a total value of $389,200.00. Following the completion of the purchase, the director directly owned 142,402 shares of the company’s stock, valued at $2,771,142.92. The trade was a 16.34% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Joseph P. Campanelli acquired 3,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were bought at an average price of $19.18 per share, for a total transaction of $57,540.00. Following the completion of the transaction, the chief executive officer owned 377,790 shares of the company’s stock, valued at approximately $7,246,012.20. This trade represents a 0.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 25,500 shares of company stock valued at $495,365. 5.10% of the stock is owned by insiders.

Hedge Funds Weigh In On NB Bancorp

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in NB Bancorp by 6.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 12,354 shares of the company’s stock valued at $245,000 after purchasing an additional 708 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in NB Bancorp by 13.3% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 10,491 shares of the company’s stock worth $208,000 after purchasing an additional 1,234 shares during the last quarter. Davis R M Inc. bought a new stake in NB Bancorp in the fourth quarter worth about $316,000. HRT Financial LP purchased a new position in shares of NB Bancorp during the fourth quarter valued at approximately $298,000. Finally, Aquatic Capital Management LLC purchased a new position in shares of NB Bancorp during the third quarter valued at approximately $211,000.

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.

See Also

Earnings History for NB Bancorp (NASDAQ:NBBK)

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