NB Bancorp (NASDAQ:NBBK) Price Target Raised to $20.00 at Piper Sandler

NB Bancorp (NASDAQ:NBBK - Free Report) had its target price upped by Piper Sandler from $19.00 to $20.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

NB Bancorp Stock Performance

Shares of NBBK traded down $0.11 during trading hours on Thursday, hitting $18.35. The stock had a trading volume of 150,542 shares, compared to its average volume of 262,934. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a 50-day moving average price of $17.50 and a 200 day moving average price of $17.82. NB Bancorp has a fifty-two week low of $15.09 and a fifty-two week high of $21.05. The firm has a market capitalization of $744.46 million, a price-to-earnings ratio of 13.80 and a beta of 0.46.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. NB Bancorp had a net margin of 15.86% and a return on equity of 7.34%. The firm had revenue of $51.19 million during the quarter. As a group, research analysts anticipate that NB Bancorp will post 1.39 EPS for the current year.

NB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 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 1.53%. The ex-dividend date of this dividend is Wednesday, August 6th. NB Bancorp's dividend payout ratio is presently 21.05%.

Insiders Place Their Bets

In related news, Director Francis Orfanello acquired 5,000 shares of NB Bancorp stock in a transaction on Tuesday, April 29th. The stock was bought at an average cost of $17.09 per share, for a total transaction of $85,450.00. Following the completion of the transaction, the director owned 130,237 shares of the company's stock, valued at approximately $2,225,750.33. The trade was a 3.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders have acquired 6,500 shares of company stock worth $110,935 in the last ninety days. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On NB Bancorp

A number of hedge funds have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of NB Bancorp in the first quarter valued at about $26,000. Tower Research Capital LLC TRC grew its holdings in shares of NB Bancorp by 87.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,433 shares of the company's stock valued at $80,000 after purchasing an additional 2,073 shares during the period. GAMMA Investing LLC grew its holdings in shares of NB Bancorp by 1,720.1% in the first quarter. GAMMA Investing LLC now owns 4,987 shares of the company's stock valued at $90,000 after purchasing an additional 4,713 shares during the period. Quantbot Technologies LP grew its holdings in shares of NB Bancorp by 375.5% in the fourth quarter. Quantbot Technologies LP now owns 6,191 shares of the company's stock valued at $112,000 after purchasing an additional 4,889 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in NB Bancorp during the fourth quarter worth about $128,000.

About NB Bancorp

NB Bancorp, Inc focuses on operating as a bank holding company for Needham Bank that provides various banking products and services in Greater Boston metropolitan area and surrounding communities in Massachusetts, eastern Connecticut, southern New Hampshire, and Rhode Island. The company offers various deposits, including certificate of deposit, individual retirement, money market, savings, NOW, demand deposit, and interest-bearing and noninterest-bearing checking accounts; and commercial real estate and multifamily, one- to four-family residential real estate, construction and land development, commercial and industrial, and consumer loans, as well as home equity loans and lines of credit.