Legal & General Group Plc acquired a new stake in NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 56,718 shares of the company's stock, valued at approximately $1,198,000. Legal & General Group Plc owned 0.13% of NB Bancorp at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in shares of NB Bancorp in the 2nd quarter valued at $237,000. Tieton Capital Management LLC bought a new position in NB Bancorp during the 2nd quarter valued at about $11,550,000. BlackRock Inc. acquired a new position in NB Bancorp in the second quarter valued at about $70,396,000. Pallas Capital Advisors LLC acquired a new position in NB Bancorp in the second quarter valued at about $211,000. Finally, Deutsche Bank AG bought a new stake in NB Bancorp during the second quarter worth about $867,000.
NB Bancorp Stock Performance
Shares of NBBK opened at $23.16 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. NB Bancorp, Inc. has a 12-month low of $16.83 and a 12-month high of $23.47. The firm has a market capitalization of $1.01 billion, a PE ratio of 15.34 and a beta of -0.01. The stock's fifty day simple moving average is $22.12 and its 200-day simple moving average is $21.25.
NB Bancorp (NASDAQ:NBBK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.07. NB Bancorp had a return on equity of 9.13% and a net margin of 14.27%. As a group, research analysts predict that NB Bancorp, Inc. will post 2.13 earnings per share for the current year.
NB Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 5th. NB Bancorp's payout ratio is 18.54%.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Wall Street Zen lowered NB Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Zacks Research raised NB Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Piper Sandler increased their target price on NB Bancorp from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Weiss Ratings upgraded NB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods lifted their price target on NB Bancorp from $24.00 to $25.00 and gave the company a "market perform" rating in a report on Tuesday, July 28th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $25.50.
Check Out Our Latest Analysis on NBBK
Insiders Place Their Bets
In other NB Bancorp news, CEO Joseph Campanelli acquired 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average cost of $21.75 per share, for a total transaction of $43,500.00. Following the completion of the acquisition, the chief executive officer directly owned 379,790 shares of the company's stock, valued at approximately $8,260,432.50. This represents a 0.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is owned by corporate insiders.
About NB Bancorp
(
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.
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