NB Bancorp (NASDAQ:NBBK) Downgraded to “Hold” Rating by Zacks Research

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

A number of other analysts also recently issued reports on NBBK. Keefe, Bruyette & Woods raised NB Bancorp to a “hold” rating in a research report on Sunday, November 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of NB Bancorp in a report on Thursday, November 20th. Finally, 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. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.00.

NB Bancorp Stock Performance

Shares of NBBK stock opened at $19.60 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $780.67 million, a price-to-earnings ratio of 12.65 and a beta of 0.32. NB Bancorp has a 52 week low of $15.09 and a 52 week high of $21.58. The firm’s 50-day simple moving average is $20.03 and its two-hundred day simple moving average is $18.83.

NB Bancorp (NASDAQ:NBBK) last released its earnings results on Wednesday, October 22nd. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. NB Bancorp had a net margin of 17.59% and a return on equity of 7.79%. The firm had revenue of $51.73 million during the quarter, compared to the consensus estimate of $52.40 million. As a group, equities analysts forecast that NB Bancorp will post 1.39 earnings per share for the current year.

Insider Activity at NB Bancorp

In other news, Director Hope Pascucci acquired 4,688 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was bought at an average cost of $18.07 per share, for a total transaction of $84,712.16. Following the completion of the transaction, the director owned 120,000 shares of the company’s stock, valued at $2,168,400. The trade was a 4.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Rockland Trust Co. bought a new position in shares of NB Bancorp in the fourth quarter worth $317,000. Diversified Trust Co. purchased a new position in NB Bancorp during the fourth quarter worth about $243,000. AFG Fiduciary Services Limited Partnership grew its position in NB Bancorp by 9.7% during the fourth quarter. AFG Fiduciary Services Limited Partnership now owns 10,970 shares of the company’s stock worth $214,000 after buying an additional 970 shares in the last quarter. JPMorgan Chase & Co. increased its stake in NB Bancorp by 19.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 119,682 shares of the company’s stock worth $2,112,000 after acquiring an additional 19,616 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of NB Bancorp in the 3rd quarter valued at about $232,000.

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.