NB Bancorp (NASDAQ:NBBK) Sets New 1-Year High – Still a Buy?

NB Bancorp, Inc. (NASDAQ:NBBK)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $28.00 and last traded at $22.2810, with a volume of 702 shares traded. The stock had previously closed at $22.51.

Analysts Set New Price Targets

Several analysts have issued reports on NBBK shares. Piper Sandler upped their target price on NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen downgraded shares of NB Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Zacks Research upgraded shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Weiss Ratings raised shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods increased their target price on shares of NB Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, NB Bancorp presently has an average rating of “Buy” and an average price target of $25.50.

NB Bancorp Price Performance

The company has a market capitalization of $977.19 million and a PE ratio of 14.77. The firm has a fifty day moving average of $21.81 and a two-hundred day moving average of $21.21. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22.

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

NB Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were issued a $0.07 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. NB Bancorp’s dividend payout ratio (DPR) is currently 18.54%.

Insider Activity

In other news, CEO Joseph P. Campanelli bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average cost of $21.75 per share, with a total value of $43,500.00. Following the completion of the purchase, the chief executive officer directly owned 379,790 shares in the company, valued at $8,260,432.50. This represents a 0.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On NB Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its position in shares of NB Bancorp by 1.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 47,596 shares of the company’s stock worth $943,000 after purchasing an additional 482 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of NB Bancorp by 75.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock valued at $25,000 after buying an additional 553 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of NB Bancorp by 6.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 12,354 shares of the company’s stock valued at $245,000 after buying an additional 708 shares during the period. AFG Fiduciary Services Limited Partnership raised its stake in NB Bancorp by 6.8% in the second quarter. AFG Fiduciary Services Limited Partnership now owns 12,493 shares of the company’s stock worth $264,000 after buying an additional 800 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in NB Bancorp by 2.0% in the second quarter. Wedge Capital Management L L P NC now owns 43,216 shares of the company’s stock worth $913,000 after buying an additional 860 shares in 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.