NB Bancorp (NASDAQ:NBBK) Director Hope Pascucci Acquires 20,000 Shares

Key Points

• Director Hope Pascucci purchased 20,000 shares on April 24 at $19.46 each for $389,200, boosting her stake to 142,402 shares (a 16.34% increase).
• The company missed Q1 estimates, reporting EPS of $0.38 versus the $0.54 consensus and revenue of $69.38M versus $70.83M, while analysts hold a consensus "Hold" rating with an average target of $24.00.
• NB Bancorp announced a quarterly dividend of $0.07 per share (annualized $0.28, ~1.4% yield) and the stock traded up ~3.4% to $19.81 on above-average volume.

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) Director Hope Pascucci acquired 20,000 shares of NB Bancorp stock in a transaction on Friday, April 24th. The shares were bought at an average cost of $19.46 per share, for a total transaction of $389,200.00. Following the completion of the transaction, the director owned 142,402 shares in the company, valued at approximately $2,771,142.92. This trade represents a 16.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

NB Bancorp Trading Up 3.4%

NB Bancorp stock traded up $0.65 during mid-day trading on Friday, reaching $19.81. 786,521 shares of the company traded hands, compared to its average volume of 323,482. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.08 and a quick ratio of 1.06. The firm's 50 day moving average price is $21.46 and its 200 day moving average price is $20.29. The firm has a market capitalization of $894.59 million, a price-to-earnings ratio of 14.46 and a beta of 0.37. NB Bancorp, Inc. has a 52-week low of $15.44 and a 52-week high of $22.86.

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

NB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, May 6th. NB Bancorp's payout ratio is presently 20.90%.

Institutional Trading of NB Bancorp

Several institutional investors have recently bought and sold shares of NBBK. AQR Capital Management LLC purchased a new stake in NB Bancorp during the 1st quarter valued at about $253,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NB Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company's stock valued at $418,000 after purchasing an additional 975 shares during the last quarter. Millennium Management LLC grew its position in NB Bancorp by 13.1% during the 1st quarter. Millennium Management LLC now owns 253,543 shares of the company's stock valued at $4,582,000 after purchasing an additional 29,373 shares during the last quarter. Jane Street Group LLC grew its position in NB Bancorp by 54.3% during the 1st quarter. Jane Street Group LLC now owns 54,613 shares of the company's stock valued at $987,000 after purchasing an additional 19,213 shares during the last quarter. Finally, Legal & General Group Plc grew its position in NB Bancorp by 3.7% during the 2nd 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 last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of NB Bancorp from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday. Zacks Research downgraded shares of NB Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 19th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of NB Bancorp in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, NB Bancorp currently has a consensus rating of "Hold" and an average target price of $24.00.

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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