NB Bancorp (NASDAQ:NBBK) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of NB Bancorp (NASDAQ:NBBK) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.

Separately, Piper Sandler lifted their target price on NB Bancorp from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, NB Bancorp has an average rating of “Moderate Buy” and an average target price of $20.00.

NB Bancorp Trading Down 1.1%

NB Bancorp stock opened at $18.07 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $719.66 million, a price-to-earnings ratio of 13.59 and a beta of 0.46. NB Bancorp has a 1 year low of $15.09 and a 1 year high of $21.05. The firm’s 50 day moving average price is $18.30 and its two-hundred day moving average price is $17.69.

NB Bancorp (NASDAQ:NBBK) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $51.19 million for the quarter. NB Bancorp had a net margin of 15.86% and a return on equity of 7.37%. On average, research analysts predict that NB Bancorp will post 1.39 EPS for the current fiscal year.

NB Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. NB Bancorp’s payout ratio is currently 21.05%.

Hedge Funds Weigh In On NB Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC grew its stake in NB Bancorp by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 49,977 shares of the company’s stock valued at $903,000 after acquiring an additional 751 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NB Bancorp by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,152 shares of the company’s stock valued at $400,000 after purchasing an additional 789 shares in the last quarter. Aviance Capital Partners LLC grew its position in NB Bancorp by 4.0% during the second quarter. Aviance Capital Partners LLC now owns 37,167 shares of the company’s stock valued at $664,000 after purchasing an additional 1,434 shares in the last quarter. Quarry LP purchased a new position in shares of NB Bancorp during the 1st quarter valued at $26,000. Finally, American Century Companies Inc. grew its holdings in shares of NB Bancorp by 8.0% during the 1st quarter. American Century Companies Inc. now owns 25,697 shares of the company’s stock valued at $464,000 after acquiring an additional 1,903 shares in the last quarter.

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.