NB Bancorp (NASDAQ:NBBK) Hits New 52-Week High – Here’s Why

NB Bancorp, Inc. (NASDAQ:NBBK)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.78 and last traded at $21.28, with a volume of 553956 shares traded. The stock had previously closed at $21.01.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NBBK. Keefe, Bruyette & Woods raised shares of NB Bancorp to a “hold” rating in a research report on Sunday, November 2nd. Weiss Ratings raised NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Zacks Research cut shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $23.00 target price (up previously from $22.00) on shares of NB Bancorp in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.00.

NB Bancorp Stock Performance

The company has a market cap of $840.01 million, a P/E ratio of 15.74 and a beta of 0.32. The business has a 50 day moving average price of $20.20 and a two-hundred day moving average price of $18.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.07 and a current ratio of 1.07.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. NB Bancorp had a return on equity of 8.94% and a net margin of 14.30%.The firm had revenue of $63.15 million during the quarter, compared to analyst estimates of $75.75 million. On average, sell-side analysts anticipate 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 Thursday, February 19th. Stockholders of record on Thursday, February 5th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, February 5th. NB Bancorp’s dividend payout ratio is 20.90%.

Institutional Trading of NB Bancorp

Several large investors have recently added to or reduced their stakes in NBBK. AQR Capital Management LLC purchased a new stake in NB Bancorp in the first quarter worth about $253,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 purchasing an additional 975 shares in the last quarter. Millennium Management LLC grew its stake in NB Bancorp by 13.1% in the first quarter. Millennium Management LLC now owns 253,543 shares of the company’s stock worth $4,582,000 after purchasing an additional 29,373 shares during the period. Jane Street Group LLC raised its holdings in NB Bancorp by 54.3% in the first quarter. Jane Street Group LLC now owns 54,613 shares of the company’s stock worth $987,000 after purchasing an additional 19,213 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in NB Bancorp during the second quarter valued at $193,000.

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.