NB Bancorp (NASDAQ:NBBK) Upgraded at Zacks Research

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

Several other equities analysts have also recently weighed in on NBBK. Piper Sandler lifted their price target on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday. Weiss Ratings raised NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $26.00.

NB Bancorp Price Performance

Shares of NASDAQ:NBBK opened at $22.43 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.00 billion, a PE ratio of 14.85 and a beta of 0.03. NB Bancorp has a twelve month low of $16.76 and a twelve month high of $22.86. The company has a 50-day moving average price of $20.58 and a two-hundred day moving average price of $20.87.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. NB Bancorp had a net margin of 14.27% and a return on equity of 9.21%. The business had revenue of $74.70 million during the quarter, compared to analyst estimates of $72.74 million. Equities analysts forecast that NB Bancorp will post 2.13 EPS for the current year.

NB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.28 annualized dividend and a yield of 1.2%. NB Bancorp’s dividend payout ratio (DPR) is currently 18.54%.

Insider Transactions at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli bought 3,000 shares of NB Bancorp stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $19.18 per share, for a total transaction of $57,540.00. Following the completion of the transaction, the chief executive officer directly owned 377,790 shares in the company, valued at $7,246,012.20. This represents a 0.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.10% of the company’s stock.

Institutional Trading of NB Bancorp

Large investors have recently modified their holdings of the business. Pertento Partners LLP increased its position in shares of NB Bancorp by 10.9% in the fourth quarter. Pertento Partners LLP now owns 2,343,776 shares of the company’s stock worth $46,454,000 after purchasing an additional 229,440 shares during the last quarter. Vanguard Group Inc. lifted its position in NB Bancorp by 18.0% during 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. Geode Capital Management LLC lifted its position in NB Bancorp by 10.3% during the fourth quarter. Geode Capital Management LLC now owns 966,662 shares of the company’s stock valued at $19,162,000 after purchasing an additional 90,014 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in NB Bancorp by 27.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock worth $12,266,000 after buying an additional 148,472 shares in the last quarter. Finally, AltraVue Capital LLC purchased a new position in NB Bancorp in the 4th quarter worth approximately $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.