NB Bancorp (NASDAQ:NBBK) Shares Gap Down After Earnings Miss

NB Bancorp, Inc. (NASDAQ:NBBK) shares gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $21.45, but opened at $18.53. NB Bancorp shares last traded at $19.0640, with a volume of 149,678 shares trading hands.

The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.16). The company had revenue of $69.38 million for the quarter, compared to the consensus estimate of $70.83 million. NB Bancorp had a return on equity of 8.75% and a net margin of 13.81%.

NB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, May 6th. NB Bancorp’s dividend payout ratio (DPR) is 20.90%.

Analyst Ratings Changes

NBBK has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $24.00 price objective on shares of NB Bancorp in a research note on Monday, March 16th. Zacks Research lowered shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NB Bancorp in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, NB Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Insider Buying and Selling at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli acquired 5,000 shares of the company’s stock in a transaction on Friday, March 6th. The shares were purchased at an average cost of $20.77 per share, with a total value of $103,850.00. Following the completion of the purchase, the chief executive officer owned 47,000 shares of the company’s stock, valued at approximately $976,190. This represents a 11.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 8,500 shares of company stock valued at $174,670 over the last 90 days. 5.10% of the stock is currently owned by company insiders.

Institutional Trading of NB Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in NBBK. AltraVue Capital LLC purchased a new stake in shares of NB Bancorp in the fourth quarter valued at about $13,735,000. Tieton Capital Management LLC purchased a new stake in shares of NB Bancorp in the fourth quarter valued at about $10,404,000. Vanguard Group Inc. raised its holdings in shares of NB Bancorp by 18.0% in the fourth quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock valued at $45,606,000 after purchasing an additional 350,899 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of NB Bancorp in the fourth quarter valued at about $5,709,000. Finally, UBS Group AG raised its holdings in shares of NB Bancorp by 264.4% in the third quarter. UBS Group AG now owns 378,353 shares of the company’s stock valued at $6,678,000 after purchasing an additional 274,511 shares during the last quarter.

NB Bancorp Stock Performance

The company’s fifty day moving average price is $21.46 and its 200 day moving average price is $20.29. The company has a market cap of $865.46 million, a PE ratio of 13.99 and a beta of 0.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.08 and a quick ratio of 1.06.

NB Bancorp Company Profile

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.