NB Bancorp (NASDAQ:NBBK) Lowered to Strong Sell Rating by Zacks Research

NB Bancorp (NASDAQ:NBBK - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday,Zacks.com reports.

NBBK has been the topic of a number of other reports. Weiss Ratings reissued a "hold (c)" rating on shares of NB Bancorp in a research report on Thursday, April 2nd. 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. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $24.00.

NB Bancorp Price Performance

NBBK opened at $19.98 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.08 and a debt-to-equity ratio of 0.23. NB Bancorp has a 52-week low of $15.44 and a 52-week high of $22.86. The company has a 50 day moving average of $21.32 and a two-hundred day moving average of $20.38. The company has a market cap of $902.40 million, a P/E ratio of 14.58 and a beta of 0.37.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.16). NB Bancorp had a return on equity of 8.75% and a net margin of 13.81%.The business had revenue of $69.38 million for the quarter, compared to analysts' expectations of $70.83 million. On average, analysts expect that NB Bancorp will post 2.02 earnings per share for the current year.

Insider Buying and Selling at NB Bancorp

In related news, 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 of the company's stock, valued at approximately $2,771,142.92. The trade was a 16.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph P. Campanelli purchased 2,500 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was bought at an average cost of $19.45 per share, for a total transaction of $48,625.00. Following the completion of the acquisition, the chief executive officer directly owned 374,790 shares of the company's stock, valued at $7,289,665.50. This represents a 0.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 31,000 shares of company stock worth $612,495 over the last ninety days. 5.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NB Bancorp

Several institutional investors have recently modified their holdings of NBBK. AltraVue Capital LLC bought a new position in shares of NB Bancorp during the fourth quarter worth about $13,735,000. Tieton Capital Management LLC bought a new position in shares of NB Bancorp during the fourth quarter worth about $10,404,000. Vanguard Group Inc. grew its position in shares of NB Bancorp by 18.0% during the fourth quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company's stock worth $45,606,000 after acquiring an additional 350,899 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of NB Bancorp during the fourth quarter worth about $5,709,000. Finally, UBS Group AG grew its position in shares of NB Bancorp by 264.4% during the third quarter. UBS Group AG now owns 378,353 shares of the company's stock worth $6,678,000 after acquiring an additional 274,511 shares during the last quarter.

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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