NB Bancorp (NASDAQ:NBBK) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of NB Bancorp (NASDAQ:NBBK) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Several other equities research analysts also recently weighed in on the company. Piper Sandler increased their price objective on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Zacks Research raised shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. 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, Keefe, Bruyette & Woods raised their price objective on shares of NB Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. 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 company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $25.50.

NB Bancorp Stock Up 2.4%

NB Bancorp stock opened at $22.51 on Friday. NB Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $23.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.06. The company has a market capitalization of $986.39 million and a P/E ratio of 14.91. The stock has a 50-day simple moving average of $21.73 and a 200-day simple moving average of $21.21.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. NB Bancorp had a return on equity of 9.13% and a net margin of 14.27%. Equities research analysts expect that NB Bancorp will post 2.13 earnings per share for the current year.

NB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were given a $0.07 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. NB Bancorp’s dividend payout ratio (DPR) is presently 18.54%.

Insider Activity at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli bought 2,000 shares of NB Bancorp stock in a transaction on Thursday, August 20th. The stock was bought at an average price of $21.75 per share, with a total value of $43,500.00. Following the completion of the acquisition, the chief executive officer owned 379,790 shares in the company, valued at $8,260,432.50. The trade was a 0.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.10% of the stock is owned by corporate insiders.

Institutional Trading of NB Bancorp

Several large investors have recently modified their holdings of NBBK. BlackRock Inc. purchased a new position in NB Bancorp during the second quarter worth $70,396,000. California State Teachers Retirement System lifted its position in shares of NB Bancorp by 2,203.1% in the second quarter. California State Teachers Retirement System now owns 824,429 shares of the company’s stock valued at $17,420,000 after acquiring an additional 788,632 shares in the last quarter. AltraVue Capital LLC acquired a new stake in shares of NB Bancorp during the fourth quarter valued at $13,735,000. Tieton Capital Management LLC acquired a new stake in shares of NB Bancorp during the second quarter valued at $11,550,000. Finally, Vanguard Group Inc. increased its position in 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 purchasing an additional 350,899 shares in 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.