NB Bancorp (NASDAQ:NBBK) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

NB Bancorp (NASDAQ:NBBK) had its price target boosted by equities researchers at Keefe, Bruyette & Woods from $24.00 to $25.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 11.46% from the stock’s current price.

NBBK has been the subject of a number of other research reports. Weiss Ratings raised shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Zacks Research upgraded shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, 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 research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, NB Bancorp currently has an average rating of “Buy” and a consensus price target of $25.50.

NB Bancorp Stock Performance

NB Bancorp stock opened at $22.43 on Tuesday. The stock has a market cap of $1.00 billion, a PE ratio of 14.85 and a beta of 0.03. The stock has a 50-day moving average price of $20.64 and a 200 day moving average price of $20.90. NB Bancorp has a 52 week low of $16.76 and a 52 week high of $22.86. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23.

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

Insider Activity at NB Bancorp

In related news, CEO Joseph P. Campanelli acquired 3,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $19.18 per share, for a total transaction of $57,540.00. Following the acquisition, the chief executive officer directly owned 377,790 shares in the company, valued at approximately $7,246,012.20. The trade was a 0.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NB Bancorp

Several hedge funds have recently modified their holdings of NBBK. Vanguard Group Inc. raised its stake in 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 during the period. Legato Capital Management LLC purchased a new stake in shares of NB Bancorp during the 4th quarter valued at $3,396,000. Tieton Capital Management LLC purchased a new stake in shares of NB Bancorp during the 4th quarter valued at $10,404,000. OP Asset Management Ltd acquired a new stake in shares of NB Bancorp during the 1st quarter worth $1,230,000. Finally, International Assets Investment Management LLC increased its holdings in shares of NB Bancorp by 50.8% during the 1st quarter. International Assets Investment Management LLC now owns 131,013 shares of the company’s stock worth $2,784,000 after buying an additional 44,113 shares during the last quarter.

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.