NB Bancorp (NASDAQ:NBBK) Reaches New 12-Month High – Time to Buy?

NB Bancorp, Inc. (NASDAQ:NBBK)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $21.24 and last traded at $21.1190, with a volume of 9924 shares traded. The stock had previously closed at $21.06.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NBBK. Zacks Research raised shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Weiss Ratings upgraded NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Piper Sandler reiterated an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of NB Bancorp in a research note on Thursday, November 20th. Finally, Keefe, Bruyette & Woods upgraded shares of NB Bancorp to a “hold” rating in a research note on Sunday, November 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.00.

NB Bancorp Stock Performance

The company’s 50-day moving average is $18.71 and its two-hundred day moving average is $18.20. The stock has a market capitalization of $836.83 million, a P/E ratio of 13.55 and a beta of 0.32. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06.

NB Bancorp (NASDAQ:NBBK) last released its quarterly 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 net margin of 17.59% and a return on equity of 7.79%. The company had revenue of $51.73 million for the quarter, compared to the consensus estimate of $52.40 million. As a group, sell-side analysts anticipate that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.

NB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 5th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, November 5th. NB Bancorp’s dividend payout ratio (DPR) is 18.06%.

Insider Buying and Selling

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

Institutional Trading of NB Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of NBBK. Tudor Investment Corp ET AL bought a new position in NB Bancorp in the 3rd quarter worth $232,000. Financial Engines Advisors L.L.C. lifted its position in shares of NB Bancorp by 9.3% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 129,288 shares of the company’s stock worth $2,282,000 after purchasing an additional 10,989 shares during the last quarter. PharVision Advisers LLC bought a new stake in NB Bancorp during the 3rd quarter valued at approximately $189,000. Verition Fund Management LLC acquired a new stake in NB Bancorp in the 3rd quarter valued at approximately $615,000. Finally, Polymer Capital Management US LLC bought a new position in NB Bancorp in the 3rd quarter worth approximately $350,000.

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.