NB Bancorp (NASDAQ:NBBK) Sets New 1-Year High - Here's What Happened

Key Points

• NB Bancorp hit a new 52-week high, trading as high as $22.83 and last at $22.8560 on volume of 74,229 shares; the company has a market capitalization of about $1.02 billion and a P/E of 16.79.
• Analysts carry a consensus rating of Moderate Buy with a consensus target price of $24.00 — Piper Sandler reiterating an overweight/$24 target while Zacks and Weiss have adopted more cautious/hold views.
• The company reported a quarterly EPS of $1.20, beating estimates by $0.71 despite revenue coming in below expectations, and CEO Joseph P. Campanelli bought 2,500 shares, modestly increasing his stake.

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $22.83 and last traded at $22.8560, with a volume of 74229 shares changing hands. The stock had previously closed at $22.25.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NBBK. Piper Sandler restated an "overweight" rating and issued a $24.00 price objective on shares of NB Bancorp in a report on Monday, March 16th. Zacks Research downgraded shares of NB Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 19th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of NB Bancorp in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

NB Bancorp Price Performance

The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.79 and a beta of 0.37. The company's 50 day moving average is $21.51 and its 200-day moving average is $20.16. The company has a current ratio of 1.08, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last issued its earnings results on Thursday, January 22nd. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.71. The business had revenue of $63.36 million during the quarter, compared to the consensus estimate of $75.75 million. NB Bancorp had a net margin of 14.30% and a return on equity of 8.58%. Equities research analysts anticipate that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

NB Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, February 5th. This represents a $0.28 annualized dividend and a yield of 1.2%. NB Bancorp's dividend payout ratio (DPR) is 20.90%.

Insider Transactions at NB Bancorp

In related news, CEO Joseph P. Campanelli acquired 2,500 shares of the business's stock in a transaction on Thursday, March 19th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer directly owned 396,661 shares of the company's stock, valued at approximately $7,996,685.76. The trade was a 0.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 8,500 shares of company stock worth $174,670 in the last three months. Company insiders own 5.10% of the company's stock.

Institutional Investors Weigh In On NB Bancorp

Several hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its position in NB Bancorp by 1.0% during the fourth quarter. Integrated Wealth Concepts LLC now owns 47,596 shares of the company's stock worth $943,000 after acquiring an additional 482 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in NB Bancorp by 75.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company's stock worth $25,000 after acquiring an additional 553 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in NB Bancorp by 6.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 12,354 shares of the company's stock worth $245,000 after acquiring an additional 708 shares during the last quarter. Diversified Trust Co lifted its position in NB Bancorp by 7.4% during the first quarter. Diversified Trust Co now owns 13,194 shares of the company's stock worth $278,000 after acquiring an additional 910 shares during the last quarter. Finally, AFG Fiduciary Services Limited Partnership lifted its position in NB Bancorp by 9.7% during the fourth quarter. AFG Fiduciary Services Limited Partnership now owns 10,970 shares of the company's stock worth $214,000 after acquiring an additional 970 shares during the last quarter.

About NB Bancorp

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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