Hope Pascucci Acquires 4,688 Shares of NB Bancorp (NASDAQ:NBBK) Stock

NB Bancorp, Inc. (NASDAQ:NBBK) Director Hope Pascucci purchased 4,688 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were purchased at an average price of $18.07 per share, with a total value of $84,712.16. Following the completion of the purchase, the director owned 120,000 shares in the company, valued at approximately $2,168,400. This trade represents a 4.07% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NB Bancorp Stock Up 1.4%

NASDAQ NBBK opened at $18.12 on Friday. NB Bancorp, Inc. has a 52 week low of $15.09 and a 52 week high of $21.05. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $721.65 million, a P/E ratio of 11.69 and a beta of 0.37. The stock’s 50-day moving average price is $18.19 and its 200-day moving average price is $17.70.

NB Bancorp (NASDAQ:NBBK) last released its earnings results on Wednesday, October 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. NB Bancorp had a net margin of 17.59% and a return on equity of 7.76%. The company had revenue of $51.73 million during the quarter, compared to analyst estimates of $52.40 million. On average, equities research analysts predict that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

NB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 5th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, November 5th. NB Bancorp’s dividend payout ratio (DPR) is presently 18.06%.

Institutional Trading of NB Bancorp

Several hedge funds have recently bought and sold shares of NBBK. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of NB Bancorp during the third quarter valued at about $294,000. State of Alaska Department of Revenue purchased a new stake in shares of NB Bancorp in the third quarter worth about $28,000. Hennessy Advisors Inc. boosted its stake in NB Bancorp by 2.8% during the third quarter. Hennessy Advisors Inc. now owns 185,000 shares of the company’s stock valued at $3,265,000 after buying an additional 5,000 shares during the last quarter. AFG Fiduciary Services Limited Partnership bought a new position in NB Bancorp during the third quarter valued at approximately $176,000. Finally, CWM LLC grew its holdings in NB Bancorp by 169.7% during the 3rd quarter. CWM LLC now owns 3,457 shares of the company’s stock valued at $61,000 after buying an additional 2,175 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts recently weighed in on NBBK shares. Zacks Research raised shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Weiss Ratings raised NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, Piper Sandler upped their price objective on NB Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $22.00.

About NB Bancorp

NB Bancorp, Inc focuses on operating as a bank holding company for Needham Bank that provides various banking products and services in Greater Boston metropolitan area and surrounding communities in Massachusetts, eastern Connecticut, southern New Hampshire, and Rhode Island. The company offers various deposits, including certificate of deposit, individual retirement, money market, savings, NOW, demand deposit, and interest-bearing and noninterest-bearing checking accounts; and commercial real estate and multifamily, one- to four-family residential real estate, construction and land development, commercial and industrial, and consumer loans, as well as home equity loans and lines of credit.