Joseph Campanelli Buys 2,500 Shares of NB Bancorp (NASDAQ:NBBK) Stock

NB Bancorp, Inc. (NASDAQ:NBBK) CEO Joseph Campanelli bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average price of $20.16 per share, for a total transaction of $50,400.00. Following the completion of the acquisition, the chief executive officer directly owned 396,661 shares in the company, valued at approximately $7,996,685.76. The trade was a 0.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

NB Bancorp Trading Down 0.7%

Shares of NASDAQ NBBK opened at $20.46 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.08 and a debt-to-equity ratio of 0.23. NB Bancorp, Inc. has a 12 month low of $15.09 and a 12 month high of $22.70. The company has a market cap of $932.98 million, a price-to-earnings ratio of 15.27 and a beta of 0.34. The business has a fifty day simple moving average of $21.21 and a 200-day simple moving average of $19.76.

NB Bancorp (NASDAQ:NBBK) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.71. The firm had revenue of $63.36 million for the quarter, compared to analysts’ expectations of $75.75 million. NB Bancorp had a return on equity of 8.58% and a net margin of 14.30%. Sell-side analysts predict that NB Bancorp, Inc. will post 1.39 EPS for the current year.

NB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Thursday, February 5th. NB Bancorp’s dividend payout ratio (DPR) is presently 20.90%.

Hedge Funds Weigh In On NB Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of NBBK. EverSource Wealth Advisors LLC increased its holdings 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 valued at $25,000 after purchasing an additional 553 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of NB Bancorp during the third quarter worth approximately $28,000. Kestra Advisory Services LLC purchased a new position in NB Bancorp during the fourth quarter valued at approximately $46,000. SHP Wealth Management acquired a new position in NB Bancorp in the 4th quarter valued at approximately $68,000. Finally, CWM LLC increased its stake in NB Bancorp by 169.7% in the 3rd quarter. CWM LLC now owns 3,457 shares of the company’s stock valued at $61,000 after buying an additional 2,175 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NBBK. Piper Sandler restated an “overweight” rating and set a $24.00 price target on shares of NB Bancorp in a report on Monday, March 16th. Zacks Research lowered shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, NB Bancorp has an average rating of “Moderate Buy” and an average target price of $24.00.

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.