Joseph Campanelli Acquires 5,000 Shares of NB Bancorp (NASDAQ:NBBK) Stock

NB Bancorp, Inc. (NASDAQ:NBBK) CEO Joseph Campanelli acquired 5,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was purchased at an average cost of $20.77 per share, with a total value of $103,850.00. Following the transaction, the chief executive officer owned 47,000 shares in the company, valued at approximately $976,190. This trade represents a 11.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

NB Bancorp Stock Up 1.7%

NB Bancorp stock opened at $21.26 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.08 and a quick ratio of 1.06. The company’s 50-day moving average is $21.07 and its 200-day moving average is $19.67. The firm has a market capitalization of $969.46 million, a PE ratio of 15.87 and a beta of 0.34. NB Bancorp, Inc. has a fifty-two week low of $15.09 and a fifty-two week high of $22.70.

NB Bancorp (NASDAQ:NBBK) last issued its earnings results on Thursday, January 22nd. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.71. NB Bancorp had a net margin of 14.30% and a return on equity of 8.58%. The business had revenue of $63.36 million during the quarter, compared to the consensus estimate of $75.75 million. Sell-side analysts anticipate that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

NB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Thursday, February 5th. NB Bancorp’s dividend payout ratio (DPR) is presently 20.90%.

Wall Street Analyst Weigh In

NBBK has been the subject of several research analyst reports. Zacks Research downgraded NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of NB Bancorp in a report on Thursday, November 20th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in NB Bancorp by 75.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock worth $25,000 after acquiring an additional 553 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of NB Bancorp in the third quarter valued at approximately $28,000. Kestra Advisory Services LLC bought a new position in shares of NB Bancorp during the fourth quarter worth approximately $46,000. CWM LLC increased its stake in shares of NB Bancorp by 169.7% during the third quarter. CWM LLC now owns 3,457 shares of the company’s stock worth $61,000 after purchasing an additional 2,175 shares during the period. Finally, SHP Wealth Management acquired a new stake in NB Bancorp during the 4th quarter worth approximately $68,000.

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.