NB Bancorp (NASDAQ:NBBK) Sees Unusually-High Trading Volume – Should You Buy?

NB Bancorp, Inc. (NASDAQ:NBBK) saw an uptick in trading volume on Monday . 395,280 shares were traded during trading, an increase of 64% from the previous session’s volume of 241,471 shares.The stock last traded at $19.0360 and had previously closed at $19.29.

Analysts Set New Price Targets

Several research firms recently commented on NBBK. Weiss Ratings upgraded shares of NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upgraded NB Bancorp to a “hold” rating in a research report on Sunday, November 2nd. Zacks Research upgraded shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, Piper Sandler lifted their price objective on NB Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, NB Bancorp presently has an average rating of “Moderate Buy” and an average target price of $22.00.

NB Bancorp Price Performance

The company’s 50 day moving average is $18.08 and its 200-day moving average is $17.84. The firm has a market capitalization of $758.00 million, a price-to-earnings ratio of 12.26 and a beta of 0.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06.

NB Bancorp (NASDAQ:NBBK) last issued its earnings results on Wednesday, October 22nd. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. NB Bancorp had a return on equity of 7.79% and a net margin of 17.59%.The company had revenue of $51.73 million during the quarter, compared to the consensus estimate of $52.40 million. Equities research analysts anticipate that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

NB Bancorp Dividend Announcement

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

Insider Buying and Selling

In other news, Director Hope Pascucci purchased 4,688 shares of NB Bancorp stock in a transaction dated Tuesday, October 28th. The shares were bought at an average cost of $18.07 per share, for a total transaction of $84,712.16. Following the completion of the acquisition, the director owned 120,000 shares in the company, valued at approximately $2,168,400. This trade represents a 4.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of NB Bancorp

A number of large investors have recently bought and sold shares of the company. SummerHaven Investment Management LLC increased its position in shares of NB Bancorp by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 50,826 shares of the company’s stock valued at $908,000 after buying an additional 849 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NB Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company’s stock valued at $418,000 after buying an additional 975 shares during the period. Aviance Capital Partners LLC increased its stake in NB Bancorp by 4.0% in the 2nd quarter. Aviance Capital Partners LLC now owns 37,167 shares of the company’s stock worth $664,000 after acquiring an additional 1,434 shares during the last quarter. Quarry LP purchased a new stake in shares of NB Bancorp in the 1st quarter valued at about $26,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of NB Bancorp in the 3rd quarter valued at about $28,000.

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.