NB Bancorp (NASDAQ:NBBK) Stock Rating Upgraded by Wall Street Zen

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

Other research analysts also recently issued research reports about the stock. Piper Sandler lifted their target price on shares of NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods upped their price target on shares of NB Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Zacks Research raised NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings upgraded NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. One equities research 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 data from MarketBeat, NB Bancorp presently has a consensus rating of “Buy” and a consensus target price of $25.50.

NB Bancorp Stock Performance

NASDAQ:NBBK opened at $23.01 on Friday. NB Bancorp has a 12 month low of $16.76 and a 12 month high of $23.27. The firm has a market cap of $1.03 billion and a price-to-earnings ratio of 15.24. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $20.89 and its 200-day moving average is $20.98.

NB Bancorp (NASDAQ:NBBK) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The business had revenue of $74.70 million during the quarter, compared to analysts’ expectations of $72.74 million. NB Bancorp had a net margin of 14.27% and a return on equity of 9.21%. Equities analysts anticipate that NB Bancorp will post 2.13 EPS for the current year.

Insider Activity

In related news, CEO Joseph P. Campanelli bought 3,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 377,790 shares of the company’s stock, valued at $7,246,012.20. The trade was a 0.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.10% of the company’s stock.

Institutional Trading of NB Bancorp

Hedge funds have recently bought and sold shares of the stock. AltraVue Capital LLC bought a new position in shares of NB Bancorp during the 4th quarter worth about $13,735,000. Tieton Capital Management LLC bought a new stake in shares of NB Bancorp in the fourth quarter valued at about $10,404,000. Vanguard Group Inc. lifted its stake in shares of NB Bancorp by 18.0% in the fourth quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock valued at $45,606,000 after buying an additional 350,899 shares during the period. Dimensional Fund Advisors LP acquired a new stake in NB Bancorp during the fourth quarter worth about $5,709,000. Finally, UBS Group AG grew its position in NB Bancorp by 264.4% during the third quarter. UBS Group AG now owns 378,353 shares of the company’s stock worth $6,678,000 after buying an additional 274,511 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.