NB Bancorp (NASDAQ:NBBK) Rating Increased to Strong-Buy at Zacks Research

NB Bancorp (NASDAQ:NBBK) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts also recently commented on NBBK. Piper Sandler upped their price objective on shares of NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday. Weiss Ratings upgraded shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $26.00.

NB Bancorp Stock Up 0.6%

NBBK stock opened at $22.43 on Thursday. NB Bancorp has a 1-year low of $16.76 and a 1-year high of $22.86. The business’s 50 day simple moving average is $20.58 and its 200 day simple moving average is $20.87. 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 $1.00 billion, a PE ratio of 14.85 and a beta of 0.03.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly 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 return on equity of 9.21% and a net margin of 14.27%.The business had revenue of $74.70 million during the quarter, compared to the consensus estimate of $72.74 million. As a group, research analysts anticipate that NB Bancorp will post 2.13 EPS for the current year.

Insider Transactions at NB Bancorp

In other news, CEO Joseph P. Campanelli purchased 3,000 shares of NB Bancorp stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $19.18 per share, for a total transaction of $57,540.00. Following the purchase, the chief executive officer directly owned 377,790 shares of the company’s stock, valued at $7,246,012.20. This trade represents a 0.80% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On NB Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of NB Bancorp by 75.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock worth $25,000 after acquiring an additional 553 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in NB Bancorp during the fourth quarter valued at approximately $46,000. SHP Wealth Management bought a new stake in NB Bancorp during the fourth quarter worth $68,000. Larson Financial Group LLC boosted its holdings in shares of NB Bancorp by 577.1% in the 4th quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock valued at $72,000 after purchasing an additional 3,093 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of NB Bancorp by 64,733.3% in the 4th quarter. Allworth Financial LP now owns 5,835 shares of the company’s stock valued at $116,000 after purchasing an additional 5,826 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.