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

NB Bancorp, Inc. (NASDAQ:NBBK)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.75 and last traded at $22.36, with a volume of 14508 shares trading hands. The stock had previously closed at $22.64.

Analyst Ratings Changes

Several brokerages have issued reports on NBBK. Piper Sandler restated an “overweight” rating and issued a $24.00 target price on shares of NB Bancorp in a report on Monday, March 16th. Zacks Research cut NB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NB Bancorp in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

NB Bancorp Trading Down 1.1%

The firm has a market capitalization of $1.01 billion, a PE ratio of 16.72 and a beta of 0.37. The company has a current ratio of 1.08, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average price of $21.49 and a two-hundred day moving average price of $20.05.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings results on Thursday, January 22nd. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.71. The business had revenue of $63.36 million during the quarter, compared to analysts’ expectations of $75.75 million. NB Bancorp had a return on equity of 8.58% and a net margin of 14.30%. Analysts expect that NB Bancorp, Inc. 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 Thursday, February 19th. Stockholders of record on Thursday, February 5th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, February 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. NB Bancorp’s dividend payout ratio is currently 20.90%.

Insider Buying and Selling at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli purchased 5,000 shares of the stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $20.77 per share, for a total transaction of $103,850.00. Following the acquisition, the chief executive officer owned 47,000 shares in the company, valued at $976,190. This trade represents a 11.90% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders acquired 8,500 shares of company stock worth $174,670. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On NB Bancorp

Several hedge funds have recently bought and sold shares of the company. Pertento Partners LLP lifted its stake in NB Bancorp by 10.9% during the 4th quarter. Pertento Partners LLP now owns 2,343,776 shares of the company’s stock worth $46,454,000 after acquiring an additional 229,440 shares in the last quarter. Vanguard Group Inc. lifted its stake in NB Bancorp by 18.0% during the 4th quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock worth $45,606,000 after acquiring an additional 350,899 shares in the last quarter. Geode Capital Management LLC lifted its stake in NB Bancorp by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 966,662 shares of the company’s stock worth $19,162,000 after acquiring an additional 90,014 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in NB Bancorp by 27.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock worth $12,266,000 after acquiring an additional 148,472 shares in the last quarter. Finally, AltraVue Capital LLC acquired a new position in NB Bancorp during the 4th quarter worth about $13,735,000.

About NB Bancorp

NB Bancorp, Inc (NASDAQ: NBBK) is the bank holding company for NB Bank, N.A., a full-service community bank headquartered in Newburyport, Massachusetts. Through a network of branches across Northeast Massachusetts and southern New Hampshire, the company offers deposit and lending services tailored to individuals and small- to medium-sized businesses.

The company’s core product lineup includes checking and savings accounts, money market deposits and certificates of deposit, along with residential mortgage loans, home equity lines of credit and commercial lending solutions.