NB Bancorp (NASDAQ:NBBK) Releases 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, beating the consensus estimate of $0.35 by $0.05, Zacks reports. NB Bancorp had a net margin of 15.86% and a return on equity of 7.34%. The business had revenue of $51.19 million during the quarter.

NB Bancorp Stock Performance

Shares of NBBK traded down $0.33 during trading hours on Friday, hitting $18.46. The stock had a trading volume of 268,922 shares, compared to its average volume of 285,690. 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 $748.92 million, a price-to-earnings ratio of 13.88 and a beta of 0.46.

NB Bancorp Announces Dividend

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

Insider Activity

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. In the last ninety days, insiders have acquired 6,500 shares of company stock valued at $110,935. 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. Millennium Management LLC increased its position in NB Bancorp by 13.1% during the first quarter. Millennium Management LLC now owns 253,543 shares of the company's stock worth $4,582,000 after purchasing an additional 29,373 shares during the last quarter. Jane Street Group LLC lifted its stake in NB Bancorp by 54.3% in the first quarter. Jane Street Group LLC now owns 54,613 shares of the company's stock worth $987,000 after acquiring an additional 19,213 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in NB Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company's stock worth $418,000 after acquiring an additional 975 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in NB Bancorp during the first quarter worth approximately $253,000.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their price objective on shares of NB Bancorp from $19.00 to $20.00 and gave the stock 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.