NB Bancorp (NASDAQ:NBBK) Stock Rating Upgraded by Zacks Research

NB Bancorp (NASDAQ:NBBK) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other analysts also recently commented on NBBK. Weiss Ratings upgraded NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Piper Sandler upped their target price on shares of NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $26.00.

NB Bancorp Stock Performance

Shares of NB Bancorp stock opened at $22.43 on Thursday. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 14.85 and a beta of 0.03. The firm’s 50-day moving average is $20.58 and its 200 day moving average is $20.87. NB Bancorp has a 1 year low of $16.76 and a 1 year high of $22.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.07 and a quick ratio of 1.06.

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

Insiders Place Their Bets

In other NB Bancorp news, CEO Joseph P. Campanelli purchased 3,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $19.18 per share, for a total transaction of $57,540.00. Following the purchase, the chief executive officer owned 377,790 shares of the company’s stock, valued at approximately $7,246,012.20. This represents a 0.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On NB Bancorp

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in NB Bancorp by 18.0% during the 4th quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock valued at $45,606,000 after purchasing an additional 350,899 shares during the period. Legato Capital Management LLC purchased a new position in NB Bancorp in the 4th quarter worth approximately $3,396,000. Tieton Capital Management LLC bought a new position in NB Bancorp in the 4th quarter worth approximately $10,404,000. OP Asset Management Ltd purchased a new stake in NB Bancorp during the 1st quarter valued at approximately $1,230,000. Finally, International Assets Investment Management LLC grew its holdings in NB Bancorp by 50.8% during the 1st quarter. International Assets Investment Management LLC now owns 131,013 shares of the company’s stock valued at $2,784,000 after buying an additional 44,113 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.