Wall Street Zen Downgrades NB Bancorp (NASDAQ:NBBK) to Hold

NB Bancorp (NASDAQ:NBBK) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

NBBK has been the topic of a number of other reports. Zacks Research upgraded shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Piper Sandler raised their price objective on shares of NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods raised 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. One equities research 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $25.50.

NB Bancorp Price Performance

Shares of NASDAQ NBBK opened at $21.98 on Friday. NB Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $23.47. The firm’s 50-day simple moving average is $21.68 and its 200 day simple moving average is $21.21. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. The stock has a market cap of $963.16 million and a P/E ratio of 14.56.

NB Bancorp (NASDAQ:NBBK) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 earnings per share 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 9.13%. Equities analysts expect that NB Bancorp will post 2.13 EPS for the current year.

Insider Transactions at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli purchased 2,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $21.75 per share, for a total transaction of $43,500.00. Following the completion of the transaction, the chief executive officer owned 379,790 shares in the company, valued at $8,260,432.50. The trade was a 0.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NB Bancorp

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in shares of NB Bancorp by 75.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock worth $25,000 after purchasing an additional 553 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in NB Bancorp during the fourth quarter valued at approximately $46,000. SHP Wealth Management acquired a new stake in NB Bancorp during the fourth quarter valued at approximately $68,000. Larson Financial Group LLC boosted its holdings in NB Bancorp by 577.1% during the fourth quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock worth $72,000 after buying an additional 3,093 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in NB Bancorp by 64,733.3% during the fourth quarter. Allworth Financial LP now owns 5,835 shares of the company’s stock worth $116,000 after buying an additional 5,826 shares in the last quarter.

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.