NB Bancorp (NASDAQ:NBBK) Reaches New 1-Year High – Here’s Why

NB Bancorp, Inc. (NASDAQ:NBBK) hit a new 52-week high during trading on Wednesday . The company traded as high as $24.00 and last traded at $23.1860, with a volume of 5176 shares changing hands. The stock had previously closed at $22.75.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NBBK. Keefe, Bruyette & Woods increased their price objective on NB Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Piper Sandler upped their price target on shares of NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen raised shares of NB Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Finally, Zacks Research raised shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $25.50.

NB Bancorp Stock Performance

The stock has a 50 day simple moving average of $21.43 and a 200 day simple moving average of $21.16. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.00 billion and a P/E ratio of 15.16.

NB Bancorp (NASDAQ:NBBK) last released its earnings results 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 return on equity of 9.21% and a net margin of 14.27%. On average, equities analysts expect that NB Bancorp, Inc. will post 2.13 earnings per share for the current year.

NB Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. NB Bancorp’s payout ratio is 18.54%.

Institutional Investors Weigh In On NB Bancorp

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of NB Bancorp in the 2nd quarter valued at approximately $70,396,000. Pertento Partners LLP boosted its position in shares of NB Bancorp by 10.9% during the 4th quarter. Pertento Partners LLP now owns 2,343,776 shares of the company’s stock worth $46,454,000 after acquiring an additional 229,440 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of NB Bancorp by 18.0% during the 4th quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock worth $45,606,000 after acquiring an additional 350,899 shares in the last quarter. Geode Capital Management LLC increased its stake in NB Bancorp by 10.3% in the fourth quarter. Geode Capital Management LLC now owns 966,662 shares of the company’s stock valued at $19,162,000 after acquiring an additional 90,014 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in NB Bancorp by 27.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock valued at $12,266,000 after acquiring an additional 148,472 shares during the last quarter.

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.