NB Bancorp (NASDAQ:NBBK) CEO Acquires $43,500.00 in Stock

NB Bancorp, Inc. (NASDAQ:NBBK) CEO Joseph Campanelli acquired 2,000 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was bought at an average cost of $21.75 per share, for a total transaction of $43,500.00. Following the completion of the transaction, the chief executive officer directly owned 379,790 shares of the company’s stock, valued at $8,260,432.50. This trade represents a 0.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

NB Bancorp Price Performance

NASDAQ NBBK opened at $21.98 on Monday. The stock has a market cap of $963.16 million and a PE ratio of 14.56. The business has a 50 day moving average price of $21.68 and a two-hundred day moving average price of $21.21. NB Bancorp, Inc. has a fifty-two week low of $16.83 and a fifty-two week high of $23.47. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.22.

NB Bancorp (NASDAQ:NBBK) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. NB Bancorp had a net margin of 14.27% and a return on equity of 9.13%. As a group, sell-side analysts predict that NB Bancorp, Inc. will post 2.13 EPS for the current fiscal year.

NB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were issued a dividend of $0.07 per share. 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 Wednesday, August 5th. NB Bancorp’s dividend payout ratio is 18.54%.

Hedge Funds Weigh In On NB Bancorp

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings raised NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Zacks Research raised shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods increased their price objective on shares of NB Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, July 28th. Wall Street Zen cut shares of NB Bancorp from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Piper Sandler lifted their price objective on shares of NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. 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 stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $25.50.

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.