NB Bancorp (NASDAQ:NBBK) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

NB Bancorp (NASDAQ:NBBK) had its price target decreased by Keefe, Bruyette & Woods from $25.00 to $24.00 in a research report report published on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

NBBK has been the subject of several other reports. Piper Sandler increased their price objective on NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. New Street Research set a $24.00 price target on NB Bancorp in a research note on Tuesday. Weiss Ratings raised NB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. Zacks Research lowered NB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Finally, Wall Street Zen cut NB Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, NB Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $24.67.

NB Bancorp Trading Up 0.1%

NB Bancorp stock opened at $22.56 on Tuesday. NB Bancorp has a 52 week low of $17.16 and a 52 week high of $23.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.06. The firm has a market capitalization of $988.53 million and a price-to-earnings ratio of 13.59. The company has a 50 day moving average price of $22.50 and a 200 day moving average price of $21.48.

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

NB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Thursday, October 29th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, October 29th. NB Bancorp’s dividend payout ratio (DPR) is presently 16.87%.

Insiders Place Their Bets

In related news, CEO Joseph Campanelli bought 2,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $21.75 per share, with a total value of $43,500.00. Following the completion of the transaction, the chief executive officer directly owned 379,790 shares of the company’s stock, valued at $8,260,432.50. This trade represents a 0.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On NB Bancorp

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of NB Bancorp in the second quarter valued at approximately $70,396,000. State Street Corp grew its stake in shares of NB Bancorp by 13.8% in the second quarter. State Street Corp now owns 1,471,766 shares of the company’s stock worth $31,098,000 after acquiring an additional 178,228 shares during the last quarter. Tieton Capital Management LLC acquired a new stake in shares of NB Bancorp in the second quarter worth $11,550,000. Dimensional Fund Advisors LP grew its stake in shares of NB Bancorp by 81.4% in the first quarter. Dimensional Fund Advisors LP now owns 522,384 shares of the company’s stock worth $11,006,000 after acquiring an additional 234,356 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in NB Bancorp by 184.6% during the third quarter. International Assets Investment Management LLC now owns 372,910 shares of the company’s stock worth $8,249,000 after acquiring an additional 241,897 shares during the period.

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.