NB Bancorp (NASDAQ:NBBK) Sets New 1-Year High – What’s Next?

NB Bancorp, Inc. (NASDAQ:NBBK) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.73 and last traded at $20.60, with a volume of 34491 shares. The stock had previously closed at $20.40.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Zacks Research upgraded NB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of NB Bancorp in a report on Thursday, November 20th. Finally, Keefe, Bruyette & Woods raised NB Bancorp to a “hold” rating in a report on Sunday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

NB Bancorp Stock Performance

The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06. The company has a market cap of $821.29 million, a P/E ratio of 13.30 and a beta of 0.32. The company has a 50 day moving average price of $18.45 and a 200-day moving average price of $18.08.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $51.73 million for the quarter, compared to analyst estimates of $52.40 million. NB Bancorp had a net margin of 17.59% and a return on equity of 7.79%. On average, equities analysts expect that NB Bancorp, Inc. will post 1.39 earnings per share for the current fiscal year.

NB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 5th were given a $0.07 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. NB Bancorp’s payout ratio is 18.06%.

Insiders Place Their Bets

In other news, Director Hope Pascucci bought 4,688 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were acquired at an average price of $18.07 per share, for a total transaction of $84,712.16. Following the completion of the acquisition, the director directly owned 120,000 shares in the company, valued at approximately $2,168,400. This represents a 4.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pertento Partners LLP boosted its position in shares of NB Bancorp by 6.8% during the 2nd quarter. Pertento Partners LLP now owns 2,114,336 shares of the company’s stock valued at $37,762,000 after purchasing an additional 135,433 shares in the last quarter. Vanguard Group Inc. lifted its stake in NB Bancorp by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,108,757 shares of the company’s stock valued at $38,105,000 after buying an additional 21,932 shares during the period. Wellington Management Group LLP boosted its holdings in shares of NB Bancorp by 7.8% during the 1st quarter. Wellington Management Group LLP now owns 1,610,589 shares of the company’s stock worth $29,103,000 after buying an additional 116,988 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of NB Bancorp by 27.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock worth $12,266,000 after buying an additional 148,472 shares during the period. Finally, UBS Group AG increased its stake in shares of NB Bancorp by 264.4% in the 3rd quarter. UBS Group AG now owns 378,353 shares of the company’s stock valued at $6,678,000 after acquiring an additional 274,511 shares in the last quarter.

NB Bancorp Company Profile

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.