NB Bancorp (NASDAQ:NBBK) Receives “Overweight” Rating from Piper Sandler

NB Bancorp (NASDAQ:NBBK)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Sandler in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $24.00 price objective on the stock. Piper Sandler’s target price indicates a potential upside of 12.83% from the company’s previous close.

Separately, Zacks Research downgraded shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, NB Bancorp presently has an average rating of “Hold” and a consensus target price of $24.00.

NB Bancorp Trading Up 2.2%

NBBK traded up $0.45 during trading on Monday, hitting $21.27. The company’s stock had a trading volume of 111,723 shares, compared to its average volume of 339,674. The firm has a market capitalization of $969.91 million, a P/E ratio of 15.87 and a beta of 0.34. NB Bancorp has a twelve month low of $15.09 and a twelve month high of $22.70. The stock’s fifty day moving average price is $21.14 and its 200-day moving average price is $19.71. The company has a quick ratio of 1.06, a current ratio of 1.08 and a debt-to-equity ratio of 0.23.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings data on Thursday, January 22nd. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.71. NB Bancorp had a net margin of 14.30% and a return on equity of 8.58%. The company had revenue of $63.36 million during the quarter, compared to analyst estimates of $75.75 million. Analysts anticipate that NB Bancorp will post 1.39 EPS for the current year.

Insider Transactions at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli purchased 5,000 shares of NB Bancorp stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $20.77 per share, with a total value of $103,850.00. Following the transaction, the chief executive officer owned 47,000 shares in the company, valued at $976,190. This trade represents a 11.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its stake in shares of NB Bancorp by 1.0% in the fourth quarter. Integrated Wealth Concepts LLC now owns 47,596 shares of the company’s stock valued at $943,000 after buying an additional 482 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 worth $25,000 after acquiring an additional 553 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of NB Bancorp by 6.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 12,354 shares of the company’s stock worth $245,000 after acquiring an additional 708 shares during the last quarter. AFG Fiduciary Services Limited Partnership lifted its position in NB Bancorp by 9.7% in the 4th quarter. AFG Fiduciary Services Limited Partnership now owns 10,970 shares of the company’s stock valued at $214,000 after acquiring an additional 970 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in NB Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company’s stock valued at $418,000 after acquiring an additional 975 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.