NB Bancorp (NASDAQ:NBBK) Sets New 52-Week High – Here’s What Happened

NB Bancorp, Inc. (NASDAQ:NBBK)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $21.78 and last traded at $21.28, with a volume of 553956 shares traded. The stock had previously closed at $21.01.

Wall Street Analyst Weigh In

NBBK has been the topic of several research reports. Weiss Ratings raised shares of NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised NB Bancorp to a “hold” rating in a research report on Sunday, November 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price objective (up previously from $22.00) on shares of NB Bancorp in a research report on Thursday, November 20th. Finally, Zacks Research downgraded NB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, NB Bancorp presently has an average rating of “Hold” and a consensus price target of $23.00.

NB Bancorp Stock Performance

The business’s 50 day simple moving average is $20.20 and its two-hundred day simple moving average is $18.89. The firm has a market capitalization of $840.01 million, a PE ratio of 15.74 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 Thursday, January 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. NB Bancorp had a return on equity of 8.94% and a net margin of 14.30%.The business had revenue of $63.15 million during the quarter, compared to the consensus estimate of $75.75 million. Research analysts expect that NB Bancorp, Inc. will post 1.39 earnings per share for the current fiscal year.

NB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be given a $0.07 dividend. The ex-dividend date is Thursday, February 5th. This represents a $0.28 annualized dividend and a yield of 1.3%. NB Bancorp’s dividend payout ratio (DPR) is presently 20.90%.

Institutional Investors Weigh In On NB Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pertento Partners LLP lifted its position in NB Bancorp by 6.8% during the second quarter. Pertento Partners LLP now owns 2,114,336 shares of the company’s stock valued at $37,762,000 after purchasing an additional 135,433 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of NB Bancorp by 27.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock valued at $12,266,000 after buying an additional 148,472 shares in the last quarter. UBS Group AG grew its stake in shares of NB Bancorp by 264.4% during the 3rd quarter. UBS Group AG now owns 378,353 shares of the company’s stock valued at $6,678,000 after acquiring an additional 274,511 shares during the period. Marshall Wace LLP increased its holdings in NB Bancorp by 165.9% in the 2nd quarter. Marshall Wace LLP now owns 315,460 shares of the company’s stock worth $5,634,000 after acquiring an additional 196,837 shares in the last quarter. Finally, Millennium Management LLC raised its stake in NB Bancorp by 13.1% during the 1st quarter. Millennium Management LLC now owns 253,543 shares of the company’s stock worth $4,582,000 after acquiring an additional 29,373 shares during the period.

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.