Zacks Research Downgrades NB Bancorp (NASDAQ:NBBK) to Hold

Key Points

• NB Bancorp's stock rating was downgraded by Zacks Research from a "strong-buy" to a "hold" on Monday.
• Piper Sandler raised NB Bancorp's target price from $19.00 to $20.00, maintaining an "overweight" rating.
• The company reported earnings of $0.40 per share for the last quarter, exceeding the consensus estimate of $0.35 by $0.05.

NB Bancorp (NASDAQ:NBBK - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Separately, Piper Sandler lifted their target price on shares of NB Bancorp from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.00.

NB Bancorp Stock Performance

NASDAQ NBBK opened at $18.27 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $727.69 million, a price-to-earnings ratio of 13.74 and a beta of 0.46. The company's fifty day moving average is $18.30 and its two-hundred day moving average is $17.69. NB Bancorp has a 52-week low of $15.09 and a 52-week high of $21.05.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. NB Bancorp had a net margin of 15.86% and a return on equity of 7.37%. The business had revenue of $51.19 million for the quarter. Equities research analysts forecast that NB Bancorp will post 1.39 EPS for the current year.

Hedge Funds Weigh In On NB Bancorp

Institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of NB Bancorp in the first quarter worth about $26,000. GAMMA Investing LLC raised its stake in shares of NB Bancorp by 1,720.1% in the first quarter. GAMMA Investing LLC now owns 4,987 shares of the company's stock worth $90,000 after acquiring an additional 4,713 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of NB Bancorp by 464.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,022 shares of the company's stock worth $143,000 after acquiring an additional 6,602 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of NB Bancorp during the second quarter worth approximately $193,000. Finally, ProShare Advisors LLC bought a new stake in shares of NB Bancorp during the fourth quarter worth approximately $198,000.

NB Bancorp Company Profile

NB Bancorp, Inc focuses on operating as a bank holding company for Needham Bank that provides various banking products and services in Greater Boston metropolitan area and surrounding communities in Massachusetts, eastern Connecticut, southern New Hampshire, and Rhode Island. The company offers various deposits, including certificate of deposit, individual retirement, money market, savings, NOW, demand deposit, and interest-bearing and noninterest-bearing checking accounts; and commercial real estate and multifamily, one- to four-family residential real estate, construction and land development, commercial and industrial, and consumer loans, as well as home equity loans and lines of credit.

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