NB Bancorp (NASDAQ:NBBK) Reaches New 12-Month High – Still a Buy?

NB Bancorp, Inc. (NASDAQ:NBBK)’s share price reached a new 52-week high on Monday . The stock traded as high as $23.47 and last traded at $23.1950, with a volume of 35286 shares traded. The stock had previously closed at $23.01.

Analyst Ratings Changes

Several equities research analysts have commented on NBBK shares. Keefe, Bruyette & Woods increased their price objective on shares of NB Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Zacks Research upgraded NB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Weiss Ratings raised NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Piper Sandler increased their price target on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen raised NB Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $25.50.

NB Bancorp Trading Up 0.9%

The firm has a market cap of $1.04 billion and a P/E ratio of 15.44. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. The firm’s 50-day simple moving average is $21.02 and its 200 day simple moving average is $21.03.

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

NB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. NB Bancorp’s dividend payout ratio (DPR) is currently 18.54%.

Insider Buying and Selling at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli purchased 3,000 shares of the stock in a transaction dated Friday, May 15th. The shares were bought at an average price of $19.18 per share, with a total value of $57,540.00. Following the completion of the transaction, the chief executive officer directly owned 377,790 shares in the company, valued at approximately $7,246,012.20. This trade represents a 0.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.10% of the stock is owned by insiders.

Institutional Investors Weigh In On NB Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new position in shares of NB Bancorp in the first quarter valued at $253,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NB Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company’s stock worth $418,000 after purchasing an additional 975 shares in the last quarter. Millennium Management LLC lifted its holdings 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 purchasing an additional 29,373 shares in the last quarter. Jane Street Group LLC boosted its stake in NB Bancorp by 54.3% in the 1st quarter. Jane Street Group LLC now owns 54,613 shares of the company’s stock worth $987,000 after purchasing an additional 19,213 shares during the period. Finally, Legal & General Group Plc boosted its stake in NB Bancorp by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 62,014 shares of the company’s stock worth $1,108,000 after purchasing an additional 2,237 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.