NB Bancorp (NASDAQ:NBBK) Announces Earnings Results

NB Bancorp (NASDAQ:NBBK - Get Free Report) posted its earnings results on Wednesday. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.16), Zacks reports. NB Bancorp had a net margin of 13.81% and a return on equity of 8.75%. The firm had revenue of $69.38 million during the quarter, compared to analyst estimates of $70.83 million.

NB Bancorp Stock Performance

NB Bancorp stock opened at $19.16 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.08. The stock has a fifty day moving average of $21.46 and a two-hundred day moving average of $20.29. The company has a market capitalization of $865.46 million, a price-to-earnings ratio of 13.99 and a beta of 0.37. NB Bancorp has a fifty-two week low of $15.44 and a fifty-two week high of $22.86.

NB Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Wednesday, May 6th. NB Bancorp's dividend payout ratio is 20.90%.

Insider Buying and Selling at NB Bancorp

In related news, CEO Joseph P. Campanelli acquired 5,000 shares of NB Bancorp stock in a transaction dated Friday, March 6th. The shares were acquired at an average cost of $20.77 per share, for a total transaction of $103,850.00. Following the completion of the transaction, the chief executive officer directly owned 47,000 shares of the company's stock, valued at $976,190. The trade was a 11.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders acquired 8,500 shares of company stock valued at $174,670 over the last ninety days. Insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new stake in shares of NB Bancorp during the 4th quarter worth about $46,000. Russell Investments Group Ltd. raised its position in shares of NB Bancorp by 1,640.6% in the third quarter. Russell Investments Group Ltd. now owns 6,945 shares of the company's stock valued at $123,000 after buying an additional 6,546 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of NB Bancorp by 464.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,022 shares of the company's stock valued at $143,000 after buying an additional 6,602 shares during the period. Quantbot Technologies LP purchased a new position in shares of NB Bancorp during the third quarter valued at approximately $156,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in NB Bancorp by 59.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,676 shares of the company's stock worth $171,000 after acquiring an additional 3,600 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NBBK shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NB Bancorp in a research note on Thursday, April 2nd. Piper Sandler reissued an "overweight" rating and issued a $24.00 price objective on shares of NB Bancorp in a research note on Monday, March 16th. Finally, Zacks Research downgraded shares of NB Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" 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.