NB Bancorp (NASDAQ:NBBK) Upgraded by Wall Street Zen to “Buy” Rating

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

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods raised their target price on NB Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Zacks Research raised shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Finally, Piper Sandler increased their price objective on shares of NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $25.50.

NB Bancorp Stock Up 1.2%

NASDAQ NBBK opened at $23.01 on Friday. The stock’s 50 day simple moving average is $20.89 and its 200 day simple moving average is $20.97. NB Bancorp has a one year low of $16.76 and a one year high of $23.27. The firm has a market cap of $1.03 billion, a PE ratio of 15.24 and a beta of 0.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.07 and a quick ratio of 1.06.

NB Bancorp (NASDAQ:NBBK) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.07. The firm had revenue of $74.70 million during the quarter, compared to the consensus estimate of $72.74 million. NB Bancorp had a return on equity of 9.21% and a net margin of 14.27%. As a group, sell-side analysts forecast that NB Bancorp will post 2.13 earnings per share for the current fiscal year.

NB Bancorp Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Joseph P. Campanelli bought 3,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were purchased at an average price of $19.18 per share, with a total value of $57,540.00. Following the completion of the purchase, the chief executive officer owned 377,790 shares of the company’s stock, valued at $7,246,012.20. This represents a 0.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On NB Bancorp

Several institutional investors have recently modified their holdings of NBBK. EverSource Wealth Advisors LLC increased its stake in shares of NB Bancorp by 75.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock valued at $25,000 after acquiring an additional 553 shares during the last quarter. Kestra Advisory Services LLC bought a new position in NB Bancorp during the 4th quarter worth approximately $46,000. SHP Wealth Management bought a new position in NB Bancorp during the 4th quarter worth approximately $68,000. Larson Financial Group LLC grew its holdings in NB Bancorp by 577.1% during the fourth quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock valued at $72,000 after purchasing an additional 3,093 shares during the period. Finally, Allworth Financial LP grew its holdings in NB Bancorp by 64,733.3% during the fourth quarter. Allworth Financial LP now owns 5,835 shares of the company’s stock valued at $116,000 after purchasing an additional 5,826 shares during the period.

About NB Bancorp

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.