Key Points
- CEO Joseph Campanelli bought 2,000 NB Bancorp shares at an average price of $21.75, investing $43,500 and increasing his ownership by 0.53% to 379,790 shares.
- NB Bancorp recently reported quarterly EPS of $0.55, surpassing analysts’ $0.48 estimate. The company also pays a quarterly dividend of $0.07 per share, yielding approximately 1.3% annually.
- Analyst sentiment remains generally positive, with a consensus “Buy” rating and a $25.50 price target; recent targets range as high as $26.00.
NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) CEO Joseph Campanelli purchased 2,000 shares of NB Bancorp stock in a transaction on Thursday, August 20th. The shares were acquired at an average cost of $21.75 per share, for a total transaction of $43,500.00. Following the purchase, the chief executive officer owned 379,790 shares in the company, valued at approximately $8,260,432.50. This trade represents a 0.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
NB Bancorp Price Performance
Shares of NASDAQ:NBBK opened at $21.98 on Friday. The company has a market cap of $963.16 million and a P/E ratio of 14.56. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. NB Bancorp, Inc. has a 52 week low of $16.83 and a 52 week high of $23.47. The business has a fifty day simple moving average of $21.68 and a 200-day simple moving average of $21.21.
NB Bancorp (NASDAQ:NBBK - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $0.55 EPS 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%. Equities research analysts forecast that NB Bancorp, Inc. will post 2.13 EPS for the current year.
NB Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, August 5th. NB Bancorp's dividend payout ratio is presently 18.54%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on NBBK. Piper Sandler boosted their target price on shares of NB Bancorp from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Zacks Research upgraded shares of NB Bancorp from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted 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. Weiss Ratings upgraded NB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen lowered NB Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $25.50.
View Our Latest Analysis on NBBK
Hedge Funds Weigh In On NB Bancorp
A number of hedge funds have recently made changes to their positions in NBBK. Empowered Funds LLC lifted its holdings in shares of NB Bancorp by 7.7% during the 2nd quarter. Empowered Funds LLC now owns 181,399 shares of the company's stock valued at $3,833,000 after acquiring an additional 13,005 shares in the last quarter. Raffles Associates LP increased its holdings in NB Bancorp by 114.3% in the 2nd quarter. Raffles Associates LP now owns 31,874 shares of the company's stock valued at $673,000 after purchasing an additional 17,000 shares in the last quarter. Jupiter Topco LLC acquired a new stake in NB Bancorp in the 2nd quarter valued at $313,000. Legal & General Group Plc purchased a new position in NB Bancorp in the second quarter valued at about $1,198,000. Finally, The Manufacturers Life Insurance Company purchased a new position in NB Bancorp in the second quarter valued at about $237,000.
NB Bancorp Company Profile
(
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.
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