Joseph Campanelli Acquires 2,500 Shares of NB Bancorp (NASDAQ:NBBK) Stock

Key Points

  • CEO Joseph Campanelli purchased 2,500 shares on March 19 at an average price of $20.16 (total $50,400), boosting his stake by 0.63% to 396,661 shares worth roughly $7.997 million.
  • NB Bancorp beat EPS expectations with $1.20 EPS vs. $0.49 expected for the quarter but posted lower-than-expected revenue of $63.36 million, and it pays a $0.07 quarterly dividend (annualized $0.28, ~1.4% yield; DPR 20.9%).
  • The shares traded around $20.49 with a market cap of about $934 million and a P/E of 15.3, while analysts show a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) CEO Joseph Campanelli purchased 2,500 shares of NB Bancorp stock in a transaction dated Thursday, March 19th. The stock was bought at an average price of $20.16 per share, with a total value of $50,400.00. Following the completion of the purchase, the chief executive officer directly owned 396,661 shares of the company's stock, valued at approximately $7,996,685.76. This trade represents a 0.63% 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.

NB Bancorp Stock Down 0.6%

Shares of NB Bancorp stock opened at $20.49 on Friday. The company has a market cap of $934.12 million, a price-to-earnings ratio of 15.30 and a beta of 0.34. The company's 50 day moving average is $21.20 and its 200 day moving average is $19.75. NB Bancorp, Inc. has a twelve month low of $15.09 and a twelve month high of $22.70. The company has a quick ratio of 1.06, a current ratio of 1.08 and a debt-to-equity ratio of 0.23.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last posted its earnings results on Thursday, January 22nd. The company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.71. The business had revenue of $63.36 million during the quarter, compared to the consensus estimate of $75.75 million. NB Bancorp had a net margin of 14.30% and a return on equity of 8.58%. Research analysts anticipate that NB Bancorp, Inc. will post 1.39 EPS for the current year.

NB Bancorp Dividend Announcement




The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Thursday, February 5th. NB Bancorp's dividend payout ratio (DPR) is 20.90%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NBBK. EverSource Wealth Advisors LLC grew its holdings in NB Bancorp by 75.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company's stock valued at $25,000 after buying an additional 553 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in NB Bancorp during the third quarter valued at $28,000. Kestra Advisory Services LLC bought a new stake in NB Bancorp in the 4th quarter valued at $46,000. CWM LLC lifted its stake in NB Bancorp by 169.7% in the 3rd quarter. CWM LLC now owns 3,457 shares of the company's stock worth $61,000 after purchasing an additional 2,175 shares in the last quarter. Finally, SHP Wealth Management purchased a new position in shares of NB Bancorp during the fourth quarter valued at about $68,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NBBK shares. Piper Sandler reiterated an "overweight" rating and issued a $24.00 price objective on shares of NB Bancorp in a research note on Monday. Zacks Research downgraded shares of NB Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Read Our Latest Report on NB Bancorp

About NB Bancorp

(Get Free Report)

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.

Further Reading

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