NB Bancorp (NASDAQ:NBBK) Price Target Raised to $25.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised NB Bancorp’s price target to $25 from $24 while maintaining a “market perform” rating, implying 11.46% upside. The stock has a consensus “Buy” rating and a $25.50 average price target.
• NB Bancorp exceeded quarterly expectations, reporting $0.55 in earnings per share versus the $0.48 consensus and revenue of $74.70 million against estimates of $72.74 million.
• Analysts remain broadly positive, with Piper Sandler raising its target to $26 and assigning an “overweight” rating; CEO Joseph Campanelli also purchased 3,000 shares, increasing his ownership by 0.80%.

NB Bancorp (NASDAQ:NBBK - Get Free Report) had its price objective hoisted by research analysts at Keefe, Bruyette & Woods from $24.00 to $25.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 11.46% from the stock's current price.

A number of other equities analysts have also recently weighed in on NBBK. Weiss Ratings raised shares of NB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. Zacks Research upgraded shares of NB Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Finally, Piper Sandler boosted their price objective on shares of NB Bancorp from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, NB Bancorp presently has a consensus rating of "Buy" and a consensus price target of $25.50.

NB Bancorp Price Performance

NBBK opened at $22.43 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.07 and a quick ratio of 1.06. NB Bancorp has a 12 month low of $16.76 and a 12 month high of $22.86. The stock has a market capitalization of $1.00 billion, a P/E ratio of 14.85 and a beta of 0.03. The business has a 50 day simple moving average of $20.64 and a 200-day simple moving average of $20.90.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.07. The firm had revenue of $74.70 million for the quarter, compared to analyst estimates of $72.74 million. NB Bancorp had a return on equity of 9.21% and a net margin of 14.27%. On average, equities analysts anticipate that NB Bancorp will post 2.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Joseph P. Campanelli bought 3,000 shares of the stock in a transaction on Friday, May 15th. The shares were bought at an average price of $19.18 per share, with a total value of $57,540.00. Following the completion of the acquisition, the chief executive officer owned 377,790 shares of the company's stock, valued at approximately $7,246,012.20. This trade represents a 0.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.10% of the company's stock.

Institutional Investors Weigh In On NB Bancorp

A number of large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in NB Bancorp by 75.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company's stock valued at $25,000 after acquiring an additional 553 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of NB Bancorp in the fourth quarter valued at about $46,000. SHP Wealth Management acquired a new stake in shares of NB Bancorp in the fourth quarter valued at approximately $68,000. Larson Financial Group LLC grew its position in shares of NB Bancorp by 577.1% in the fourth quarter. Larson Financial Group LLC now owns 3,629 shares of the company's stock valued at $72,000 after purchasing an additional 3,093 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of NB Bancorp by 64,733.3% during the 4th quarter. Allworth Financial LP now owns 5,835 shares of the company's stock worth $116,000 after purchasing an additional 5,826 shares in 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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