NB Bancorp (NASDAQ:NBBK) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of NB Bancorp (NASDAQ:NBBK) to a hold rating in a research report released on Sunday morning,Zacks.com reports.

Several other research analysts have also weighed in on NBBK. Zacks Research upgraded NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Piper Sandler increased their price objective on NB Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings upgraded NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, NB Bancorp presently has an average rating of “Moderate Buy” and an average target price of $22.00.

NB Bancorp Stock Up 0.3%

Shares of NBBK stock opened at $17.80 on Friday. NB Bancorp has a fifty-two week low of $15.09 and a fifty-two week high of $21.05. 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 capitalization of $708.97 million, a PE ratio of 11.48 and a beta of 0.37. The stock’s 50-day simple moving average is $18.13 and its 200-day simple moving average is $17.75.

NB Bancorp (NASDAQ:NBBK) last issued its earnings results on Wednesday, October 22nd. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. NB Bancorp had a return on equity of 7.76% and a net margin of 17.59%.The firm had revenue of $51.73 million for the quarter, compared to the consensus estimate of $52.40 million. Equities analysts expect that NB Bancorp will post 1.39 earnings per share for the current year.

NB Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 5th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, November 5th. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. NB Bancorp’s dividend payout ratio (DPR) is 18.06%.

Insider Transactions at NB Bancorp

In related news, Director Hope Pascucci bought 4,688 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The stock was purchased at an average cost of $18.07 per share, for a total transaction of $84,712.16. Following the completion of the acquisition, the director owned 120,000 shares in the company, valued at approximately $2,168,400. This trade represents a 4.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

Institutional Trading of NB Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its position in NB Bancorp by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 50,826 shares of the company’s stock valued at $908,000 after acquiring an additional 849 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NB Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company’s stock valued at $418,000 after acquiring an additional 975 shares during the period. Aviance Capital Partners LLC increased its position in NB Bancorp by 4.0% in the 2nd quarter. Aviance Capital Partners LLC now owns 37,167 shares of the company’s stock valued at $664,000 after acquiring an additional 1,434 shares during the period. Quarry LP acquired a new position in NB Bancorp in the 1st quarter valued at about $26,000. Finally, State of Alaska Department of Revenue acquired a new position in NB Bancorp in the 3rd quarter valued at about $28,000.

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.