NB Bancorp (NASDAQ:NBBK) Reaches New 1-Year High – Time to Buy?

NB Bancorp, Inc. (NASDAQ:NBBK) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $28.00 and last traded at $22.2810, with a volume of 702 shares traded. The stock had previously closed at $22.51.

Analyst Ratings Changes

NBBK has been the topic of a number of research analyst reports. Weiss Ratings raised shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of NB Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday. Keefe, Bruyette & Woods upped 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 raised shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Finally, Piper Sandler raised their price target 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. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $25.50.

NB Bancorp Stock Performance

The firm has a fifty day moving average of $21.73 and a 200-day moving average of $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 firm has a market cap of $976.97 million and a P/E ratio of 14.76.

NB Bancorp (NASDAQ:NBBK) last announced 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 return on equity of 9.13% and a net margin of 14.27%. Research analysts predict that NB Bancorp, Inc. will post 2.13 earnings per share for the current fiscal year.

NB Bancorp Announces Dividend

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

Insider Transactions at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli bought 2,000 shares of the stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $21.75 per share, with a total value of $43,500.00. Following the acquisition, the chief executive officer owned 379,790 shares of the company’s stock, valued at approximately $8,260,432.50. The trade was a 0.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position 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 bought a new stake in NB Bancorp in the fourth quarter valued at about $46,000. SHP Wealth Management bought a new stake in NB Bancorp in the fourth quarter valued at about $68,000. Larson Financial Group LLC lifted its stake in 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 period. Finally, Allworth Financial LP lifted its stake in NB Bancorp by 64,733.3% in 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.