Keefe, Bruyette & Woods Issues Pessimistic Forecast for NB Bancorp (NASDAQ:NBBK) Stock Price

NB Bancorp (NASDAQ:NBBK) had its target price cut by investment analysts at Keefe, Bruyette & Woods from $25.00 to $24.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods‘s target price points to a potential upside of 5.94% from the stock’s current price.

Other research analysts have also issued research reports about the company. New Street Research set a $24.00 target price on NB Bancorp in a report on Tuesday. Wall Street Zen downgraded NB Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Piper Sandler upped their price target on NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings raised NB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. Finally, Zacks Research cut NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, NB Bancorp has an average rating of “Moderate Buy” and a consensus price target of $24.67.

NB Bancorp Stock Down 1.5%

Shares of NBBK traded down $0.36 on Tuesday, reaching $22.65. The company’s stock had a trading volume of 79,305 shares, compared to its average volume of 304,191. NB Bancorp has a twelve month low of $17.16 and a twelve month high of $23.47. The stock has a market capitalization of $992.65 million and a PE ratio of 13.65. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $22.50 and a 200-day moving average of $21.42.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings results on Thursday, October 15th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $76.55 million during the quarter, compared to the consensus estimate of $77.30 million. NB Bancorp had a return on equity of 9.75% and a net margin of 14.86%. Equities analysts predict that NB Bancorp will post 2.12 EPS for the current year.

Insider Buying and Selling

In other news, CEO Joseph Campanelli bought 2,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average price of $21.75 per share, with a total value of $43,500.00. Following the transaction, the chief executive officer directly owned 379,790 shares in the company, valued at $8,260,432.50. This represents a 0.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On NB Bancorp

Institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of NB Bancorp during the second quarter valued at approximately $70,396,000. State Street Corp boosted its position in NB Bancorp by 13.8% in the second quarter. State Street Corp now owns 1,471,766 shares of the company’s stock worth $31,098,000 after purchasing an additional 178,228 shares during the last quarter. Tieton Capital Management LLC bought a new position in NB Bancorp in the 2nd quarter valued at $11,550,000. Dimensional Fund Advisors LP grew its stake in NB Bancorp by 81.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 522,384 shares of the company’s stock valued at $11,006,000 after purchasing an additional 234,356 shares during the period. Finally, Sei Investments Co. grew its stake in NB Bancorp by 110.2% in the 1st quarter. Sei Investments Co. now owns 302,181 shares of the company’s stock valued at $6,367,000 after purchasing an additional 158,397 shares during the period.

NB Bancorp Company Profile

NB Bancorp, Inc is the bank holding company for Needham Bank, a community-oriented financial institution headquartered in Needham, Massachusetts. Through Needham Bank, the company provides banking services to individuals, families, businesses, nonprofit organizations and municipalities, primarily in the Greater Boston and eastern Massachusetts markets.

Its products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, commercial real estate loans, commercial and industrial lending, construction loans and consumer credit.