NB Bancorp (NASDAQ:NBBK) Rating Increased to Hold at Zacks Research

NB Bancorp (NASDAQ:NBBK) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on NBBK. Piper Sandler cut their price target on shares of NB Bancorp from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of NB Bancorp in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, NB Bancorp presently has an average rating of “Hold” and a consensus target price of $24.00.

NB Bancorp Price Performance

Shares of NBBK stock opened at $20.72 on Monday. NB Bancorp has a fifty-two week low of $16.76 and a fifty-two week high of $22.86. The firm has a market capitalization of $926.39 million, a price-to-earnings ratio of 15.12 and a beta of 0.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.07. The stock’s 50-day simple moving average is $20.33 and its 200-day simple moving average is $20.78.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.16). The company had revenue of $69.38 million during the quarter, compared to analysts’ expectations of $70.83 million. NB Bancorp had a net margin of 13.81% and a return on equity of 8.57%. As a group, equities analysts forecast that NB Bancorp will post 2.02 earnings per share for the current fiscal year.

Insider Transactions at NB Bancorp

In other news, Director Hope Pascucci bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average price of $19.46 per share, with a total value of $389,200.00. Following the completion of the acquisition, the director directly owned 142,402 shares of the company’s stock, valued at $2,771,142.92. This trade represents a 16.34% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph P. Campanelli bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $19.18 per share, for a total transaction of $57,540.00. Following the transaction, the chief executive officer owned 377,790 shares of the company’s stock, valued at $7,246,012.20. The trade was a 0.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 25,500 shares of company stock valued at $495,365 in the last ninety days. Corporate insiders own 5.10% of the company’s stock.

Institutional Trading of NB Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of NBBK. EverSource Wealth Advisors LLC increased its stake in shares of NB Bancorp by 75.4% in the fourth 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 period. Kestra Advisory Services LLC acquired a new position in NB Bancorp during the fourth quarter valued at $46,000. SHP Wealth Management acquired a new position in NB Bancorp during the fourth quarter valued at $68,000. Larson Financial Group LLC boosted its holdings in NB Bancorp by 577.1% in the fourth quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock valued at $72,000 after purchasing an additional 3,093 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in NB Bancorp by 64,733.3% in the fourth quarter. Allworth Financial LP now owns 5,835 shares of the company’s stock valued at $116,000 after purchasing 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.