NB Bancorp (NASDAQ:NBBK) Reaches New 1-Year High – Time to Buy?

NB Bancorp, Inc. (NASDAQ:NBBK) shares hit a new 52-week high on Tuesday . The company traded as high as $22.31 and last traded at $22.05, with a volume of 391416 shares traded. The stock had previously closed at $21.72.

Analysts Set New Price Targets

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

NB Bancorp Trading Up 1.5%

The business has a 50 day simple moving average of $20.41 and a two-hundred day simple moving average of $18.97. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06. The company has a market cap of $878.25 million, a PE ratio of 16.46 and a beta of 0.31.

NB Bancorp (NASDAQ:NBBK) last released its earnings results on Thursday, January 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. NB Bancorp had a return on equity of 8.94% and a net margin of 14.30%.The firm had revenue of $63.15 million during the quarter, compared to analyst estimates of $75.75 million. On average, analysts forecast that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.

NB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. NB Bancorp’s dividend payout ratio is currently 20.90%.

Institutional Investors Weigh In On NB Bancorp

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in NB Bancorp by 18.0% during the fourth quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock worth $45,606,000 after purchasing an additional 350,899 shares during the period. UBS Group AG increased its holdings in shares of NB Bancorp by 264.4% during the 3rd quarter. UBS Group AG now owns 378,353 shares of the company’s stock worth $6,678,000 after buying an additional 274,511 shares during the last quarter. Marshall Wace LLP raised its position in shares of NB Bancorp by 165.9% in the 2nd quarter. Marshall Wace LLP now owns 315,460 shares of the company’s stock worth $5,634,000 after buying an additional 196,837 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in NB Bancorp by 27.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock valued at $12,266,000 after acquiring an additional 148,472 shares during the last quarter. Finally, Pertento Partners LLP boosted its holdings in NB Bancorp by 6.8% in the second quarter. Pertento Partners LLP now owns 2,114,336 shares of the company’s stock valued at $37,762,000 after acquiring an additional 135,433 shares during the last quarter.

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.