NB Bancorp (NASDAQ:NBBK) CEO Joseph Campanelli Buys 2,000 Shares of Stock

NB Bancorp, Inc. (NASDAQ:NBBK) CEO Joseph Campanelli acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average cost of $21.75 per share, with a total value of $43,500.00. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

NB Bancorp Stock Performance

Shares of NBBK stock opened at $21.98 on Friday. The stock has a fifty day moving average price of $21.68 and a 200 day moving average price of $21.21. 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 stock has a market cap of $963.16 million and a PE ratio of 14.56. NB Bancorp, Inc. has a 1 year low of $16.83 and a 1 year high of $23.47.

NB Bancorp (NASDAQ:NBBK) last posted its earnings results on Wednesday, July 22nd. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.07. NB Bancorp had a return on equity of 9.13% and a net margin of 14.27%. Sell-side analysts forecast that NB Bancorp, Inc. will post 2.13 earnings per share for the current fiscal year.

NB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, August 5th. NB Bancorp’s dividend payout ratio is presently 18.54%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NBBK. Keefe, Bruyette & Woods lifted their target price 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. Zacks Research upgraded shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Piper Sandler raised their price objective on shares of NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen downgraded NB Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings raised NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned 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.

Institutional Trading of NB Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBBK. EverSource Wealth Advisors LLC lifted its holdings in 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 purchasing an additional 553 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of NB Bancorp during the fourth quarter worth about $46,000. SHP Wealth Management acquired a new position in shares of NB Bancorp in the fourth quarter valued at approximately $68,000. Larson Financial Group LLC raised its position in shares of NB Bancorp by 577.1% in the fourth quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock valued at $72,000 after buying an additional 3,093 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of 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 buying 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.