NB Bancorp (NASDAQ:NBBK) Reaches New 1-Year High – Time to Buy?

Shares of NB Bancorp, Inc. (NASDAQ:NBBK) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $23.47 and last traded at $23.1950, with a volume of 35286 shares traded. The stock had previously closed at $23.01.

Wall Street Analysts Forecast Growth

NBBK has been the subject of a number of research reports. Piper Sandler increased their price target on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings raised NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Zacks Research raised NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Wall Street Zen raised NB Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Keefe, Bruyette & Woods increased their target price on NB Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, NB Bancorp currently has a consensus rating of “Buy” and an average price target of $25.50.

NB Bancorp Stock Up 0.1%

The business’s 50 day simple moving average is $20.89 and its 200 day simple moving average is $20.98. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.03 billion and a PE ratio of 15.22.

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

NB Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. NB Bancorp’s payout ratio is presently 18.54%.

Insider Transactions at NB Bancorp

In related news, CEO Joseph P. Campanelli acquired 3,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 377,790 shares in the company, valued at approximately $7,246,012.20. This trade represents a 0.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NB Bancorp

Several large investors have recently modified their holdings of NBBK. Vanguard Group Inc. boosted 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 buying an additional 350,899 shares during the period. Legato Capital Management LLC purchased a new stake in shares of NB Bancorp in the fourth quarter valued at $3,396,000. Tieton Capital Management LLC purchased a new stake in shares of NB Bancorp in the fourth quarter valued at $10,404,000. OP Asset Management Ltd bought a new stake in shares of NB Bancorp in the 1st quarter worth about $1,230,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of NB Bancorp by 50.8% in the 1st quarter. International Assets Investment Management LLC now owns 131,013 shares of the company’s stock worth $2,784,000 after acquiring 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.