NB Bancorp (NASDAQ:NBBK) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of NB Bancorp (NASDAQ:NBBK) in a report published on Monday,Benzinga reports. The brokerage currently has a $24.00 price objective on the stock.

Separately, Zacks Research cut shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.00.

NB Bancorp Trading Up 0.7%

NASDAQ NBBK opened at $20.96 on Monday. NB Bancorp has a fifty-two week low of $15.09 and a fifty-two week high of $22.70. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.08. The stock has a 50 day simple moving average of $21.16 and a two-hundred day simple moving average of $19.73. The stock has a market cap of $955.78 million, a P/E ratio of 15.64 and a beta of 0.34.

NB Bancorp (NASDAQ:NBBK) last issued its quarterly earnings data 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 firm had revenue of $63.36 million for the quarter, compared to analyst estimates of $75.75 million. NB Bancorp had a return on equity of 8.58% and a net margin of 14.30%. On average, analysts forecast that NB Bancorp will post 1.39 earnings per share for the current year.

NB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, February 5th. NB Bancorp’s payout ratio is presently 20.90%.

Insider Buying and Selling at NB Bancorp

In other news, CEO Joseph P. Campanelli bought 5,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was purchased at an average price of $20.77 per share, with a total value of $103,850.00. Following the transaction, the chief executive officer owned 47,000 shares of the company’s stock, valued at approximately $976,190. The trade was a 11.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On NB Bancorp

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in NB Bancorp by 75.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock worth $25,000 after purchasing an additional 553 shares during the period. State of Alaska Department of Revenue purchased a new position in NB Bancorp during the third quarter valued at $28,000. Kestra Advisory Services LLC purchased a new position in NB Bancorp during the fourth quarter valued at $46,000. CWM LLC boosted its holdings in shares of 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 buying an additional 2,175 shares in the last quarter. Finally, SHP Wealth Management bought a new stake in shares of NB Bancorp during the 4th quarter valued at $68,000.

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.