Weiss Ratings Reaffirms “Hold (C-)” Rating for NB Bancorp (NASDAQ:NBBK)

NB Bancorp (NASDAQ:NBBK)‘s stock had its “hold (c-)” rating reaffirmed by investment analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Other equities analysts have also recently issued research reports about the company. Piper Sandler lifted their price target on NB Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday. Zacks Research upgraded NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $22.00.

NB Bancorp Stock Down 2.2%

NASDAQ NBBK opened at $17.86 on Friday. The firm has a market cap of $711.36 million, a PE ratio of 11.52 and a beta of 0.37. 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 stock’s 50 day simple moving average is $18.20 and its 200 day simple moving average is $17.65. NB Bancorp has a one year low of $15.09 and a one year high of $21.05.

NB Bancorp (NASDAQ:NBBK) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. The business had revenue of $51.73 million for the quarter, compared to analyst estimates of $52.40 million. NB Bancorp had a return on equity of 7.76% and a net margin of 17.59%. As a group, sell-side analysts forecast that NB Bancorp will post 1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NB Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in NBBK. Quarry LP purchased a new stake in shares of NB Bancorp during the 1st quarter worth approximately $26,000. State of Alaska Department of Revenue bought a new stake in NB Bancorp during the 3rd quarter valued at $28,000. CWM LLC raised its holdings in NB Bancorp by 169.7% during the 3rd quarter. CWM LLC now owns 3,457 shares of the company’s stock valued at $61,000 after acquiring an additional 2,175 shares during the period. Tower Research Capital LLC TRC raised its holdings in NB Bancorp by 464.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,022 shares of the company’s stock valued at $143,000 after acquiring an additional 6,602 shares during the period. Finally, AFG Fiduciary Services Limited Partnership bought a new stake in NB Bancorp during the 3rd quarter valued at $176,000.

About NB Bancorp

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.