Insider Buying: NB Bancorp (NASDAQ:NBBK) CEO Buys $43,500.00 in Stock

Key Points

• CEO Joseph Campanelli bought 2,000 NB Bancorp shares at $21.75 each, investing $43,500 and increasing his stake by 0.53% to 379,790 shares.
• NB Bancorp recently exceeded earnings expectations, reporting quarterly EPS of $0.55 versus the $0.48 consensus estimate. The company also pays a quarterly dividend of $0.07 per share, representing a 1.3% yield.
• Analyst sentiment is broadly positive, with the stock carrying a consensus “Buy” rating and a $25.50 target price, above its recent $21.98 price.

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) CEO Joseph Campanelli bought 2,000 shares of the business's stock in a transaction dated Thursday, August 20th. The stock was bought at an average cost of $21.75 per share, for a total transaction of $43,500.00. Following the completion of the purchase, the chief executive officer owned 379,790 shares of the company's stock, valued at approximately $8,260,432.50. The trade was a 0.53% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

NB Bancorp Price Performance

NASDAQ:NBBK remained flat at $21.98 on Friday. The company's stock had a trading volume of 388,234 shares, compared to its average volume of 315,635. The business has a 50-day moving average price of $21.66 and a 200-day moving average price of $21.21. NB Bancorp, Inc. has a fifty-two week low of $16.83 and a fifty-two week high of $23.47. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The stock has a market cap of $963.16 million and a PE ratio of 14.56.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.07. NB Bancorp had a net margin of 14.27% and a return on equity of 9.13%. As a group, equities research analysts anticipate that NB Bancorp, Inc. will post 2.13 EPS for the current year.

NB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, August 5th. NB Bancorp's dividend payout ratio is currently 18.54%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NBBK. Wall Street Zen raised shares of NB Bancorp from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Piper Sandler lifted their target price on shares of NB Bancorp from $24.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Zacks Research upgraded NB Bancorp from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods increased 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. Finally, Weiss Ratings upgraded shares of NB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $25.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in NB Bancorp during the 1st quarter worth approximately $253,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NB Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company's stock worth $418,000 after acquiring an additional 975 shares during the last quarter. Millennium Management LLC lifted its stake in NB Bancorp by 13.1% in the 1st quarter. Millennium Management LLC now owns 253,543 shares of the company's stock valued at $4,582,000 after buying an additional 29,373 shares in the last quarter. Jane Street Group LLC boosted its position in NB Bancorp by 54.3% during the first quarter. Jane Street Group LLC now owns 54,613 shares of the company's stock worth $987,000 after acquiring an additional 19,213 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of NB Bancorp by 3.7% in the second quarter. Legal & General Group Plc now owns 62,014 shares of the company's stock valued at $1,108,000 after purchasing an additional 2,237 shares during the period.

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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