NB Bancorp (NASDAQ:NBBK) Reaches New 1-Year High - Time to Buy?

Key Points

• NB Bancorp shares reached a new 52-week high of $23.53, with the stock trading above its 50-day and 200-day moving averages.
• Analyst sentiment is moderately positive: the stock has a consensus “Moderate Buy” rating and a $25 average price target, although some firms recently downgraded it to “Hold.”
• The company slightly exceeded quarterly EPS expectations at $0.60 and declared a quarterly dividend of $0.07 per share, representing a 1.2% annualized yield.

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) shares reached a new 52-week high on Tuesday. The company traded as high as $23.53 and last traded at $23.1650, with a volume of 131 shares. The stock had previously closed at $23.01.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen lowered NB Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Keefe, Bruyette & Woods lifted their price target on shares of NB Bancorp from $24.00 to $25.00 and gave the company a "market perform" rating in a report on Tuesday, July 28th. Piper Sandler increased their price target on NB Bancorp from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Zacks Research lowered shares of NB Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 21st. Finally, Weiss Ratings raised shares of NB Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.00.

NB Bancorp Stock Performance

The company has a market capitalization of $994.01 million and a PE ratio of 13.69. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The firm's 50-day simple moving average is $22.50 and its 200-day simple moving average is $21.42.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last released its quarterly earnings results on Thursday, October 15th. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.01. NB Bancorp had a return on equity of 9.75% and a net margin of 14.86%. The company had revenue of $76.55 million during the quarter, compared to analysts' expectations of $77.30 million. On average, research analysts predict that NB Bancorp, Inc. will post 2.12 earnings per share for the current year.

NB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Thursday, October 29th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 29th. NB Bancorp's payout ratio is currently 16.87%.

Insider Activity

In other news, CEO Joseph Campanelli bought 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average cost of $21.75 per share, with a total value of $43,500.00. Following the transaction, the chief executive officer owned 379,790 shares of the company's stock, valued at $8,260,432.50. This represents a 0.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NB Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of NBBK. AFG Fiduciary Services Limited Partnership lifted its stake in NB Bancorp by 6.8% during the 2nd quarter. AFG Fiduciary Services Limited Partnership now owns 12,493 shares of the company's stock valued at $264,000 after acquiring an additional 800 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in NB Bancorp by 2.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 43,216 shares of the company's stock valued at $913,000 after buying an additional 860 shares in the last quarter. Royal Bank of Canada increased its position in shares of NB Bancorp by 7.0% during the first quarter. Royal Bank of Canada now owns 13,268 shares of the company's stock valued at $280,000 after buying an additional 868 shares during the period. Quantinno Capital Management LP grew its stake in NB Bancorp by 11.2% during the first quarter. Quantinno Capital Management LP now owns 25,941 shares of the company's stock valued at $547,000 after acquiring an additional 2,620 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in NB Bancorp by 9.9% during the first quarter. Lazard Asset Management LLC now owns 57,302 shares of the company's stock worth $1,207,000 after buying an additional 5,142 shares in the last quarter.

NB Bancorp Company Profile

NB Bancorp, Inc is the bank holding company for Needham Bank, a community-oriented financial institution headquartered in Needham, Massachusetts. Through Needham Bank, the company provides banking services to individuals, families, businesses, nonprofit organizations and municipalities, primarily in the Greater Boston and eastern Massachusetts markets.

Its products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, commercial real estate loans, commercial and industrial lending, construction loans and consumer credit.

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