NB Bancorp (NASDAQ:NBBK) Hits New 52-Week High - Still a Buy?

Key Points

• NB Bancorp reached a new 52-week high of $28, while its latest quoted price was $22.2810. The stock has an average analyst rating of “Buy” and a consensus price target of $25.50.
• The company reported quarterly EPS of $0.55, beating estimates of $0.48, with a 9.13% return on equity and 14.27% net margin. Analysts expect full-year EPS of approximately $2.13.
• NB Bancorp pays a quarterly dividend of $0.07, equivalent to an annualized yield of about 1.3%, and CEO Joseph Campanelli recently purchased 2,000 shares for $43,500.

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $28.00 and last traded at $22.2810, with a volume of 702 shares changing hands. The stock had previously closed at $22.51.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of NB Bancorp from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. Wall Street Zen cut shares of NB Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday. Piper Sandler lifted their target price on NB Bancorp from $24.00 to $26.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded NB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of NB Bancorp from $24.00 to $25.00 and gave the company a "market perform" rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $25.50.

NB Bancorp Price Performance

The company has a 50-day moving average of $21.73 and a 200 day moving average of $21.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.06. The firm has a market cap of $976.97 million and a P/E ratio of 14.76.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.07. NB Bancorp had a return on equity of 9.13% and a net margin of 14.27%. On average, sell-side analysts anticipate that NB Bancorp, Inc. will post 2.13 EPS for the current year.

NB Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. NB Bancorp's dividend payout ratio is presently 18.54%.

Insider Activity

In other news, CEO Joseph P. Campanelli purchased 2,000 shares of NB Bancorp stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $21.75 per share, for a total transaction of $43,500.00. Following the completion of the transaction, the chief executive officer directly owned 379,790 shares in the company, valued at approximately $8,260,432.50. This represents a 0.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NBBK. 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 purchasing an additional 553 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in NB Bancorp in the fourth quarter worth $46,000. SHP Wealth Management acquired a new position in NB Bancorp in the fourth quarter worth $68,000. Larson Financial Group LLC grew its holdings in shares of NB Bancorp by 577.1% during the fourth quarter. Larson Financial Group LLC now owns 3,629 shares of the company's stock worth $72,000 after purchasing an additional 3,093 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of NB Bancorp by 64,733.3% during the fourth quarter. Allworth Financial LP now owns 5,835 shares of the company's stock worth $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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