NB Bancorp (NASDAQ:NBBK) Raised to “Hold” at Zacks Research

NB Bancorp (NASDAQ:NBBK) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

NBBK has been the topic of several other research reports. Weiss Ratings restated a “hold (c)” rating on shares of NB Bancorp in a research note on Thursday, April 2nd. Piper Sandler lowered their price objective 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. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.00.

NB Bancorp Stock Up 2.1%

Shares of NASDAQ NBBK opened at $20.72 on Monday. NB Bancorp has a 52-week low of $16.76 and a 52-week high of $22.86. The firm has a market capitalization of $926.39 million, a price-to-earnings ratio of 15.12 and a beta of 0.06. The stock has a 50 day moving average price of $20.33 and a 200 day moving average price of $20.78. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.07.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.16). NB Bancorp had a return on equity of 8.57% and a net margin of 13.81%.The firm had revenue of $69.38 million for the quarter, compared to analysts’ expectations of $70.83 million. Sell-side analysts expect that NB Bancorp will post 2.02 earnings per share for the current year.

Insider Transactions at NB Bancorp

In related news, CEO Joseph P. Campanelli acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were bought 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 directly owned 377,790 shares in the company, valued at $7,246,012.20. This trade represents a 0.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hope Pascucci bought 20,000 shares of NB Bancorp stock in a transaction on Friday, April 24th. The stock was purchased at an average price of $19.46 per share, with a total value of $389,200.00. Following the completion of the acquisition, the director directly owned 142,402 shares of the company’s stock, valued at $2,771,142.92. This represents a 16.34% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 25,500 shares of company stock worth $495,365. 5.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NBBK. AltraVue Capital LLC acquired a new stake in NB Bancorp in the fourth quarter valued at approximately $13,735,000. Tieton Capital Management LLC acquired a new position in shares of NB Bancorp during the fourth quarter worth $10,404,000. Vanguard Group Inc. increased its position in shares of NB Bancorp by 18.0% during the fourth quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock worth $45,606,000 after purchasing an additional 350,899 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of NB Bancorp during the 4th quarter valued at $5,709,000. Finally, UBS Group AG lifted its holdings in shares of NB Bancorp by 264.4% during the 3rd quarter. UBS Group AG now owns 378,353 shares of the company’s stock valued at $6,678,000 after purchasing an additional 274,511 shares during 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.