Insider Buying: NB Bancorp (NASDAQ:NBBK) Director Acquires 1,434 Shares of Stock

NB Bancorp, Inc. (NASDAQ:NBBK) Director Mary Susan Elliott acquired 1,434 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $21.39 per share, for a total transaction of $30,673.26. Following the completion of the purchase, the director directly owned 1,434 shares of the company’s stock, valued at approximately $30,673.26. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

NB Bancorp Stock Performance

Shares of NASDAQ:NBBK traded up $0.08 during midday trading on Friday, reaching $21.53. The company had a trading volume of 83,043 shares, compared to its average volume of 301,558. The company’s 50 day moving average price is $20.31 and its 200 day moving average price is $18.92. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06. NB Bancorp, Inc. has a 52-week low of $15.09 and a 52-week high of $21.78. The stock has a market cap of $857.25 million, a P/E ratio of 16.06 and a beta of 0.32.

NB Bancorp (NASDAQ:NBBK) last posted its earnings results on Thursday, January 22nd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. The firm had revenue of $63.15 million during the quarter, compared to the consensus estimate of $75.75 million. NB Bancorp had a net margin of 14.30% and a return on equity of 8.94%. As a group, sell-side analysts anticipate that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.

NB Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, February 5th. NB Bancorp’s payout ratio is currently 20.90%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue purchased a new stake in shares of NB Bancorp during the 3rd quarter valued at about $28,000. CWM LLC increased its stake in shares of NB Bancorp by 169.7% in the 3rd quarter. CWM LLC now owns 3,457 shares of the company’s stock worth $61,000 after purchasing an additional 2,175 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in NB Bancorp by 1,640.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,945 shares of the company’s stock worth $123,000 after purchasing an additional 6,546 shares during the period. Tower Research Capital LLC TRC lifted its position in NB Bancorp by 464.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,022 shares of the company’s stock valued at $143,000 after purchasing an additional 6,602 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in NB Bancorp during the third quarter valued at about $156,000.

Analyst Ratings Changes

NBBK has been the subject of several research reports. Weiss Ratings raised NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Zacks Research cut shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Piper Sandler restated an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of NB Bancorp in a research report on Thursday, November 20th. Finally, Keefe, Bruyette & Woods upgraded shares of NB Bancorp to a “hold” rating in a report on Sunday, November 2nd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, NB Bancorp has an average rating of “Hold” and an average price target of $23.00.

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.