Insider Buying: NB Bancorp (NASDAQ:NBBK) CEO Acquires 3,000 Shares of Stock

NB Bancorp, Inc. (NASDAQ:NBBK) CEO Joseph Campanelli purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $19.18 per share, for a total transaction of $57,540.00. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NB Bancorp Stock Performance

NBBK stock traded up $0.29 during trading on Monday, hitting $19.46. The company had a trading volume of 167,646 shares, compared to its average volume of 331,748. The firm has a market cap of $870.06 million, a PE ratio of 14.20 and a beta of 0.06. NB Bancorp, Inc. has a 1-year low of $15.44 and a 1-year high of $22.86. The firm has a 50-day moving average price of $20.91 and a 200-day moving average price of $20.55. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.23.

NB Bancorp (NASDAQ:NBBK) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.16). The company had revenue of $69.38 million during the quarter, compared to analyst estimates of $70.83 million. NB Bancorp had a net margin of 13.81% and a return on equity of 8.57%. On average, analysts expect that NB Bancorp, Inc. will post 2.02 earnings per share for the current year.

NB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, May 6th. This represents a $0.28 annualized dividend and a yield of 1.4%. NB Bancorp’s payout ratio is presently 20.44%.

Institutional Investors Weigh In On NB Bancorp

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of NB Bancorp by 18.0% during the 4th quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock worth $45,606,000 after acquiring an additional 350,899 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of NB Bancorp by 8.3% during the 2nd quarter. Rafferty Asset Management LLC now owns 35,629 shares of the company’s stock worth $636,000 after acquiring an additional 2,720 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of NB Bancorp by 12.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 88,900 shares of the company’s stock worth $1,588,000 after acquiring an additional 9,600 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of NB Bancorp during the 2nd quarter worth approximately $426,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of NB Bancorp by 26.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 100,672 shares of the company’s stock worth $1,798,000 after acquiring an additional 21,072 shares in the last quarter.

Analysts Set New Price Targets

NBBK has been the topic of several recent analyst reports. Zacks Research cut NB Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Piper Sandler dropped their target price on NB Bancorp from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NB Bancorp in a research report on Thursday, April 2nd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” 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.