Insider Buying: NB Bancorp (NASDAQ:NBBK) CEO Acquires 3,000 Shares of Stock

NB Bancorp, Inc. (NASDAQ:NBBK) CEO Joseph Campanelli bought 3,000 shares of NB Bancorp stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average cost of $19.18 per share, for a total transaction of $57,540.00. Following the purchase, the chief executive officer owned 377,790 shares in the company, valued at $7,246,012.20. This 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.

NB Bancorp Price Performance

NBBK stock traded up $0.29 on Monday, reaching $19.46. The company had a trading volume of 167,646 shares, compared to its average volume of 331,748. NB Bancorp, Inc. has a 1 year low of $15.44 and a 1 year high of $22.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.07. The company’s fifty day moving average is $20.91 and its 200 day moving average is $20.55. The company has a market cap of $870.06 million, a P/E ratio of 14.20 and a beta of 0.06.

NB Bancorp (NASDAQ:NBBK) last posted its earnings results on Wednesday, April 22nd. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.16). NB Bancorp had a net margin of 13.81% and a return on equity of 8.57%. The company had revenue of $69.38 million during the quarter, compared to analysts’ expectations of $70.83 million. On average, research analysts forecast that NB Bancorp, Inc. will post 2.02 earnings per share for the current year.

NB Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. NB Bancorp’s dividend payout ratio is presently 20.44%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NBBK shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NB Bancorp in a research note on Thursday, April 2nd. Piper Sandler cut their price target on NB Bancorp from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Finally, Zacks Research downgraded NB Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NBBK. AQR Capital Management LLC acquired a new position in NB Bancorp in the 1st quarter valued at $253,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NB Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company’s stock valued at $418,000 after acquiring an additional 975 shares during the last quarter. Millennium Management LLC raised its holdings in NB Bancorp by 13.1% in the 1st quarter. Millennium Management LLC now owns 253,543 shares of the company’s stock valued at $4,582,000 after acquiring an additional 29,373 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of NB Bancorp by 54.3% during the 1st quarter. Jane Street Group LLC now owns 54,613 shares of the company’s stock worth $987,000 after buying an additional 19,213 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of 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 buying an additional 2,237 shares during the period.

NB Bancorp Company Profile

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.