NB Bancorp (NASDAQ:NBBK) Stock Breaks Below 50 Day Moving Average – What’s Next?

NB Bancorp, Inc. (NASDAQ:NBBK) shares passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $22.51 and traded as low as $22.23. NB Bancorp shares last traded at $22.29, with a volume of 251,426 shares trading hands.

Analyst Ratings Changes

NBBK has been the subject of a number of research reports. Piper Sandler boosted their price target on shares of NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Zacks Research lowered shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Wall Street Zen cut shares of NB Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings upgraded shares of NB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of NB Bancorp from $25.00 to $24.00 and set a “market perform” rating for the company in a report on Tuesday, October 27th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

NB Bancorp Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $22.51 and a 200 day moving average price of $21.52. The stock has a market cap of $976.75 million, a PE ratio of 13.43 and a beta of 0.01.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings data on Thursday, October 15th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. NB Bancorp had a return on equity of 9.75% and a net margin of 14.86%. The firm had revenue of $76.55 million during the quarter, compared to the consensus estimate of $77.30 million. Analysts expect that NB Bancorp, Inc. will post 2.12 earnings per share for the current year.

NB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Thursday, October 29th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, October 29th. NB Bancorp’s payout ratio is currently 16.87%.

Insider Activity at NB Bancorp

In other NB Bancorp news, CEO Joseph Campanelli bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average price of $21.75 per share, for a total transaction of $43,500.00. Following the completion of the acquisition, the chief executive officer directly owned 379,790 shares in the company, valued at $8,260,432.50. The trade was a 0.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.10% of the stock is currently owned by corporate insiders.

Institutional Trading of NB Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its stake in shares of NB Bancorp by 3.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 19,987 shares of the company’s stock valued at $442,000 after purchasing an additional 702 shares during the period. AFG Fiduciary Services Limited Partnership boosted its stake in NB Bancorp by 6.8% in the 2nd quarter. AFG Fiduciary Services Limited Partnership now owns 12,493 shares of the company’s stock worth $264,000 after purchasing an additional 800 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of 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. Royal Bank of Canada lifted its position in NB Bancorp by 7.0% in the 1st quarter. Royal Bank of Canada now owns 13,268 shares of the company’s stock valued at $280,000 after acquiring an additional 868 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in NB Bancorp by 1.7% in the 3rd quarter. International Assets Investment Management LLC now owns 133,207 shares of the company’s stock valued at $2,967,000 after acquiring an additional 2,194 shares in the last quarter.

NB Bancorp Company Profile

NB Bancorp, Inc is the bank holding company for Needham Bank, a community-oriented financial institution headquartered in Needham, Massachusetts. Through Needham Bank, the company provides banking services to individuals, families, businesses, nonprofit organizations and municipalities, primarily in the Greater Boston and eastern Massachusetts markets.

Its products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, commercial real estate loans, commercial and industrial lending, construction loans and consumer credit.