NB Bancorp (NASDAQ:NBBK) Raised to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded NB Bancorp from hold to strong-buy, adding to a broadly bullish analyst outlook. The stock now has a consensus rating of Buy with a consensus price target of $26.00.
• NB Bancorp recently beat earnings expectations, reporting $0.55 EPS versus the expected $0.48 and revenue of $74.7 million versus $72.74 million. Analysts are forecasting 2.13 EPS for the full year.
• The stock opened at $22.43, near its 52-week high of $22.86, while CEO Joseph P. Campanelli bought 3,000 shares in May. Institutional investors also reported several new or expanded positions in the company.

NB Bancorp (NASDAQ:NBBK - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Weiss Ratings upgraded NB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, July 14th. Piper Sandler upped their price target on shares of NB Bancorp from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $26.00.

NB Bancorp Stock Performance

NBBK stock opened at $22.43 on Thursday. The business's 50-day moving average price is $20.58 and its two-hundred day moving average price is $20.87. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.00 billion, a PE ratio of 14.85 and a beta of 0.03. NB Bancorp has a 1-year low of $16.76 and a 1-year high of $22.86.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.07. NB Bancorp had a return on equity of 9.21% and a net margin of 14.27%.The firm had revenue of $74.70 million during the quarter, compared to analysts' expectations of $72.74 million. As a group, research analysts forecast that NB Bancorp will post 2.13 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Joseph P. Campanelli purchased 3,000 shares of NB Bancorp stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $19.18 per share, with a total value of $57,540.00. Following the transaction, the chief executive officer directly owned 377,790 shares in the company, valued at $7,246,012.20. The trade was a 0.80% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 5.10% of the company's stock.

Institutional Trading of NB Bancorp

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of NB Bancorp by 75.4% in 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 during the period. Kestra Advisory Services LLC bought a new stake in shares of NB Bancorp in the 4th quarter valued at about $46,000. SHP Wealth Management bought a new stake in shares of NB Bancorp in the 4th quarter valued at about $68,000. Larson Financial Group LLC lifted its stake in NB Bancorp by 577.1% in the 4th 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 lifted its stake in NB Bancorp by 64,733.3% in the 4th quarter. Allworth Financial LP now owns 5,835 shares of the company's stock valued at $116,000 after purchasing an additional 5,826 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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