Insider Buying: NB Bancorp (NASDAQ:NBBK) CEO Acquires 2,000 Shares of Stock

NB Bancorp, Inc. (NASDAQ:NBBK) CEO Joseph Campanelli purchased 2,000 shares of NB Bancorp stock in a transaction on Thursday, August 20th. The shares were acquired at an average cost of $21.75 per share, for a total transaction of $43,500.00. Following the completion of the transaction, the chief executive officer owned 379,790 shares of the company’s stock, valued at $8,260,432.50. This represents a 0.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

NB Bancorp Price Performance

NASDAQ NBBK remained flat at $21.98 during trading hours on Friday. The company had a trading volume of 388,234 shares, compared to its average volume of 315,635. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.06 and a quick ratio of 1.05. NB Bancorp, Inc. has a 52-week low of $16.83 and a 52-week high of $23.47. The stock has a market cap of $963.16 million and a P/E ratio of 14.56. The business’s fifty day moving average is $21.66 and its 200 day moving average is $21.21.

NB Bancorp (NASDAQ:NBBK) last announced its earnings results on Wednesday, July 22nd. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.07. NB Bancorp had a net margin of 14.27% and a return on equity of 9.13%. On average, equities analysts anticipate that NB Bancorp, Inc. will post 2.13 EPS for the current year.

NB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 5th. This represents a $0.28 annualized dividend and a yield of 1.3%. NB Bancorp’s payout ratio is presently 18.54%.

Analysts Set New Price Targets

Several equities analysts have recently commented on NBBK shares. Wall Street Zen upgraded shares of NB Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods lifted their target price on NB Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, July 28th. Piper Sandler upped their target price on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Zacks Research raised NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings raised shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, NB Bancorp presently has an average rating of “Buy” and an average target price of $25.50.

Hedge Funds Weigh In On NB Bancorp

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of NB Bancorp by 75.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock valued at $25,000 after purchasing an additional 553 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in NB Bancorp during the 4th quarter worth about $46,000. SHP Wealth Management acquired a new position in NB Bancorp in the fourth quarter valued at approximately $68,000. Larson Financial Group LLC grew its stake in shares of NB Bancorp by 577.1% during the fourth quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock worth $72,000 after purchasing an additional 3,093 shares during the period. Finally, Allworth Financial LP increased its stake in shares of NB Bancorp by 64,733.3% in the 4th quarter. Allworth Financial LP now owns 5,835 shares of the company’s stock valued at $116,000 after acquiring an additional 5,826 shares during the last quarter.

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.