NB Bancorp (NASDAQ:NBBK) Posts Earnings Results, Beats Expectations By $0.04 EPS

NB Bancorp (NASDAQ:NBBK) released its quarterly earnings results on Wednesday. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04, FiscalAI reports. NB Bancorp had a return on equity of 8.57% and a net margin of 13.81%.

NB Bancorp Trading Up 0.2%

Shares of NBBK traded up $0.05 on Wednesday, reaching $21.09. 383,428 shares of the company’s stock were exchanged, compared to its average volume of 301,460. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $942.93 million, a P/E ratio of 15.39 and a beta of 0.03. The business has a 50 day moving average price of $20.44 and a two-hundred day moving average price of $20.83. NB Bancorp has a 12 month low of $16.76 and a 12 month high of $22.86.

Insiders Place Their Bets

In other NB Bancorp news, Director Hope Pascucci bought 20,000 shares of the company’s stock in a transaction on Friday, April 24th. The stock was bought at an average price of $19.46 per share, for a total transaction of $389,200.00. Following the transaction, the director owned 142,402 shares of the company’s stock, valued at approximately $2,771,142.92. The trade was a 16.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph P. Campanelli bought 3,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were acquired at an average price of $19.18 per share, with a total value of $57,540.00. Following the transaction, the chief executive officer directly owned 377,790 shares in the company, valued at approximately $7,246,012.20. The trade was a 0.80% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 25,500 shares of company stock valued at $495,365 in the last ninety days. Company insiders own 5.10% of the company’s stock.

Institutional Trading of NB Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC grew its position in shares of NB Bancorp by 1.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 47,596 shares of the company’s stock valued at $943,000 after purchasing an additional 482 shares during the period. The Manufacturers Life Insurance Company raised its holdings in NB Bancorp by 6.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 12,354 shares of the company’s stock worth $245,000 after buying an additional 708 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in NB Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company’s stock valued at $418,000 after buying an additional 975 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in NB Bancorp by 13.3% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 10,491 shares of the company’s stock valued at $208,000 after buying an additional 1,234 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in NB Bancorp by 3.7% in the second quarter. Legal & General Group Plc now owns 62,014 shares of the company’s stock valued at $1,108,000 after buying an additional 2,237 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research raised shares of NB Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Piper Sandler dropped their target price on shares of NB Bancorp from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Finally, Weiss Ratings upgraded shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NB Bancorp has an average rating of “Moderate Buy” and a consensus price target of $24.00.

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.