NB Bancorp (NASDAQ:NBBK) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

NB Bancorp (NASDAQ:NBBK - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.05, Zacks reports. NB Bancorp had a return on equity of 7.34% and a net margin of 15.86%. The business had revenue of $51.19 million during the quarter.

NB Bancorp Price Performance

Shares of NASDAQ:NBBK traded down $0.33 during trading on Friday, hitting $18.46. 268,922 shares of the company were exchanged, compared to its average volume of 263,737. The business's 50 day moving average is $17.48 and its 200-day moving average is $17.80. The company has a market capitalization of $748.92 million, a P/E ratio of 13.88 and a beta of 0.46. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.12. NB Bancorp has a 1-year low of $15.09 and a 1-year high of $21.05.

NB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.52%.

Insiders Place Their Bets

In related news, Director Francis Orfanello acquired 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was acquired at an average cost of $17.09 per share, for a total transaction of $85,450.00. Following the completion of the acquisition, the director directly owned 130,237 shares of the company's stock, valued at approximately $2,225,750.33. This trade represents a 3.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders acquired 6,500 shares of company stock valued at $110,935 in the last three months. Corporate insiders own 1.90% of the company's stock.

Institutional Trading of NB Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 worth $418,000 after purchasing an additional 975 shares in the last quarter. AQR Capital Management LLC purchased a new stake in NB Bancorp during the first quarter valued at approximately $253,000. Jane Street Group LLC increased its holdings in NB Bancorp by 54.3% during the first quarter. Jane Street Group LLC now owns 54,613 shares of the company's stock valued at $987,000 after buying an additional 19,213 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in NB Bancorp by 13.1% during the first quarter. Millennium Management LLC now owns 253,543 shares of the company's stock valued at $4,582,000 after buying an additional 29,373 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Piper Sandler boosted their price objective on shares of NB Bancorp from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday.

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.