NB Bancorp (NASDAQ:NBBK) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• NB Bancorp reported quarterly earnings of $0.55 per share, topping analyst estimates by $0.04. The bank also posted a 13.81% net margin and 8.57% return on equity.
• The stock traded slightly higher after the report, reaching $21.09 on heavier-than-normal volume. NB Bancorp has a market value of about $942.9 million and has ranged between $16.76 and $22.86 over the past year.
• Insiders have been buying shares, including CEO Joseph P. Campanelli and Director Hope Pascucci, while analysts currently assign the stock a Moderate Buy consensus rating with a $24.00 average price target.

NB Bancorp (NASDAQ:NBBK - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04, FiscalAI reports. NB Bancorp had a return on equity of 8.57% and a net margin of 13.81%.

NB Bancorp Price Performance

NASDAQ:NBBK traded up $0.05 during trading hours on Wednesday, reaching $21.09. The company had a trading volume of 383,428 shares, compared to its average volume of 301,460. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $20.44 and a two-hundred day moving average of $20.83. NB Bancorp has a one year low of $16.76 and a one year high of $22.86. The firm has a market capitalization of $942.93 million, a PE ratio of 15.39 and a beta of 0.03.

Insiders Place Their Bets

In other news, CEO Joseph P. Campanelli bought 3,000 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $19.18 per share, for a total transaction of $57,540.00. Following the transaction, the chief executive officer directly owned 377,790 shares of the company's stock, valued at $7,246,012.20. This trade represents a 0.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Hope Pascucci purchased 20,000 shares of the business's stock in a transaction that occurred on Friday, April 24th. The shares were purchased at an average cost of $19.46 per share, with a total value of $389,200.00. Following the completion of the acquisition, the director directly owned 142,402 shares in the company, valued at $2,771,142.92. The trade was a 16.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 25,500 shares of company stock valued at $495,365. Company insiders own 5.10% of the company's stock.

Institutional Trading of NB Bancorp

Several large investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new position in shares of NB Bancorp in the fourth quarter valued at approximately $46,000. Russell Investments Group Ltd. grew its position in NB Bancorp by 1,640.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,945 shares of the company's stock worth $123,000 after acquiring an additional 6,546 shares during the last quarter. Tower Research Capital LLC TRC grew its position in NB Bancorp by 464.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,022 shares of the company's stock worth $143,000 after acquiring an additional 6,602 shares during the last quarter. Quantbot Technologies LP acquired a new stake in NB Bancorp during the 3rd quarter valued at $156,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in NB Bancorp by 59.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,676 shares of the company's stock valued at $171,000 after purchasing an additional 3,600 shares in the last quarter.

Wall Street Analyst Weigh In

NBBK has been the topic of several recent research reports. Zacks Research raised NB Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Weiss Ratings upgraded NB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. Finally, Piper Sandler decreased their price target on shares of NB Bancorp from $25.00 to $24.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, NB Bancorp has a consensus rating of "Moderate Buy" and an average target price of $24.00.

About NB Bancorp

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.