NB Bancorp (NASDAQ:NBBK) Announces Quarterly Earnings Results

NB Bancorp (NASDAQ:NBBK) issued its quarterly earnings data on Thursday. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02, FiscalAI reports. The company had revenue of $63.15 million during the quarter, compared to the consensus estimate of $75.75 million. NB Bancorp had a return on equity of 8.94% and a net margin of 14.30%.

NB Bancorp Trading Down 1.3%

Shares of NBBK opened at $20.40 on Friday. NB Bancorp has a twelve month low of $15.09 and a twelve month high of $21.58. The stock has a market capitalization of $812.45 million, a P/E ratio of 15.22 and a beta of 0.32. The firm has a fifty day simple moving average of $20.12 and a two-hundred day simple moving average of $18.86. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.06.

NB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Thursday, February 5th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. NB Bancorp’s dividend payout ratio (DPR) is currently 20.90%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings raised shares of NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upgraded NB Bancorp to a “hold” rating in a report on Sunday, November 2nd. Zacks Research downgraded NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Piper Sandler reiterated an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of NB Bancorp in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.00.

Insider Buying and Selling at NB Bancorp

In other NB Bancorp news, Director Hope Pascucci purchased 4,688 shares of the stock in a transaction dated Tuesday, October 28th. The stock was purchased at an average price of $18.07 per share, with a total value of $84,712.16. Following the transaction, the director owned 120,000 shares of the company’s stock, valued at approximately $2,168,400. This trade represents a 4.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of NB Bancorp

A number of institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in shares of NB Bancorp by 1,640.6% during the third quarter. Russell Investments Group Ltd. now owns 6,945 shares of the company’s stock worth $123,000 after purchasing an additional 6,546 shares during the last quarter. Tower Research Capital LLC TRC grew its position in NB Bancorp by 464.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,022 shares of the company’s stock worth $143,000 after purchasing an additional 6,602 shares during the period. Quantbot Technologies LP purchased a new position in shares of NB Bancorp during the 3rd quarter valued at about $156,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of NB Bancorp by 59.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,676 shares of the company’s stock valued at $171,000 after buying an additional 3,600 shares during the period. Finally, PharVision Advisers LLC purchased a new stake in shares of NB Bancorp in the third quarter worth about $189,000.

About NB Bancorp

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.