Wall Street Zen upgraded shares of NB Bancorp (NASDAQ:NBBK – Free Report) from a hold rating to a buy rating in a research report report published on Saturday.
Other analysts have also issued reports about the stock. Zacks Research upgraded shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Keefe, Bruyette & Woods boosted their target price on NB Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Finally, Piper Sandler raised 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $25.50.
Check Out Our Latest Research Report on NBBK
NB Bancorp Trading Up 0.5%
NB Bancorp (NASDAQ:NBBK – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The company had revenue of $74.70 million during the quarter, compared to analysts’ expectations of $72.74 million. NB Bancorp had a net margin of 14.27% and a return on equity of 9.21%. As a group, analysts predict that NB Bancorp will post 2.13 earnings per share for the current fiscal year.
NB Bancorp Announces Dividend
The firm also recently announced 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 of this dividend is Wednesday, August 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. NB Bancorp’s dividend payout ratio (DPR) is presently 18.54%.
Insider Activity
In other NB Bancorp news, CEO Joseph P. Campanelli purchased 3,000 shares of NB Bancorp stock in a transaction that occurred 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 acquisition, the chief executive officer directly owned 377,790 shares in the company, valued at approximately $7,246,012.20. This trade represents a 0.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.10% of the stock is owned by insiders.
Institutional Investors Weigh In On NB Bancorp
Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in NB Bancorp by 75.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock worth $25,000 after acquiring an additional 553 shares during the period. Kestra Advisory Services LLC purchased a new position in NB Bancorp during the 4th quarter valued at $46,000. SHP Wealth Management bought a new position in NB Bancorp in the 4th quarter worth $68,000. Larson Financial Group LLC raised its holdings in NB Bancorp by 577.1% in the 4th quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock worth $72,000 after purchasing an additional 3,093 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of NB Bancorp by 64,733.3% in the 4th quarter. Allworth Financial LP now owns 5,835 shares of the company’s stock worth $116,000 after purchasing an additional 5,826 shares during the period.
About NB Bancorp
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.
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