NB Bancorp (NASDAQ:NBBK) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded NB Bancorp from “buy” to “hold,” though the broader analyst consensus remains “Buy” with an average price target of $25.50.
• NB Bancorp reported quarterly EPS of $0.55, beating estimates of $0.48; analysts expect full-year EPS of approximately $2.13.
• CEO Joseph P. Campanelli purchased 2,000 shares worth $43,500, while institutional investors including Empowered Funds and Raffles Associates increased their positions.

NB Bancorp (NASDAQ:NBBK - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

A number of other equities analysts also recently issued reports on NBBK. Keefe, Bruyette & Woods raised their price target on NB Bancorp from $24.00 to $25.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded NB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, July 14th. Zacks Research raised NB Bancorp from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. Finally, Piper Sandler raised their target price 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 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's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $25.50.

NB Bancorp Price Performance

Shares of NB Bancorp stock opened at $21.98 on Friday. The company has a market cap of $963.16 million and a price-to-earnings ratio of 14.56. The company's 50 day moving average is $21.68 and its 200 day moving average is $21.21. NB Bancorp has a twelve month low of $16.83 and a twelve month high of $23.47. 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 (NASDAQ:NBBK - Get Free Report) last posted its earnings results 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 net margin of 14.27% and a return on equity of 9.13%. Research analysts anticipate that NB Bancorp will post 2.13 EPS for the current year.

Insider Transactions at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli purchased 2,000 shares of the business's stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $21.75 per share, for a total transaction of $43,500.00. Following the purchase, the chief executive officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.10% of the company's stock.

Institutional Trading of NB Bancorp

Institutional investors have recently made changes to their positions in the business. Empowered Funds LLC raised its stake in NB Bancorp by 7.7% during the 2nd quarter. Empowered Funds LLC now owns 181,399 shares of the company's stock valued at $3,833,000 after purchasing an additional 13,005 shares during the period. Raffles Associates LP boosted its stake in NB Bancorp by 114.3% in the 2nd quarter. Raffles Associates LP now owns 31,874 shares of the company's stock worth $673,000 after purchasing an additional 17,000 shares during the period. Jupiter Topco LLC purchased a new stake in NB Bancorp during the 2nd quarter valued at approximately $313,000. Legal & General Group Plc purchased a new stake in NB Bancorp during the 2nd quarter valued at approximately $1,198,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of NB Bancorp during the second quarter valued at approximately $237,000.

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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