Insider Buying: NB Bancorp (NASDAQ:NBBK) CEO Acquires 2,500 Shares of Stock

Key Points

• Insider purchase: CEO Joseph Campanelli bought 2,500 shares on April 24 at an average price of $19.45 (total $48,625), raising his stake by 0.67% to 374,790 shares valued at about $7.29 million.
• Earnings miss: NB Bancorp reported $0.38 EPS for the quarter versus $0.54 expected and revenue of $69.38 million vs. $70.83 million, while analysts forecast 2.34 EPS for the fiscal year.
• The company declared a quarterly dividend of $0.07 (annualized $0.28, ~1.4% yield) with an ex-dividend date of May 6; analysts hold a consensus "Hold" rating with an average target price of $24.00.

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) CEO Joseph Campanelli purchased 2,500 shares of the business's stock in a transaction dated Friday, April 24th. The shares were acquired at an average price of $19.45 per share, with a total value of $48,625.00. Following the completion of the acquisition, the chief executive officer owned 374,790 shares of the company's stock, valued at approximately $7,289,665.50. The trade was a 0.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NB Bancorp Stock Performance

Shares of NBBK stock traded up $0.05 during trading hours on Monday, reaching $19.87. 685,944 shares of the company's stock were exchanged, compared to its average volume of 332,716. NB Bancorp, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $22.86. The stock has a market capitalization of $897.53 million, a P/E ratio of 14.50 and a beta of 0.37. The business has a fifty day moving average price of $21.42 and a 200-day moving average price of $20.34. The company has a quick ratio of 1.06, a current ratio of 1.08 and a debt-to-equity ratio of 0.23.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.16). NB Bancorp had a return on equity of 8.75% and a net margin of 13.81%.The business had revenue of $69.38 million for the quarter, compared to analyst estimates of $70.83 million. Analysts predict that NB Bancorp, Inc. will post 2.34 EPS for the current fiscal year.

NB Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, May 6th. NB Bancorp's payout ratio is 20.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of NB Bancorp in a report on Thursday, April 2nd. Piper Sandler lowered their price target on shares of NB Bancorp from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Zacks Research lowered shares of NB Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, January 19th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $24.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NBBK. AltraVue Capital LLC acquired a new position in NB Bancorp during the fourth quarter worth $13,735,000. Tieton Capital Management LLC acquired a new position in NB Bancorp during the fourth quarter worth $10,404,000. Vanguard Group Inc. raised its stake in NB Bancorp by 18.0% during the fourth quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company's stock worth $45,606,000 after acquiring an additional 350,899 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in NB Bancorp during the fourth quarter worth $5,709,000. Finally, UBS Group AG grew its holdings in shares of NB Bancorp by 264.4% during the third quarter. UBS Group AG now owns 378,353 shares of the company's stock worth $6,678,000 after purchasing an additional 274,511 shares during the last quarter.

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.

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