NB Bancorp (NASDAQ:NBBK) Earns “Overweight” Rating from Piper Sandler

NB Bancorp (NASDAQ:NBBK)‘s stock had its “overweight” rating reiterated by research analysts at Piper Sandler in a report issued on Monday,Benzinga reports. They presently have a $24.00 target price on the stock. Piper Sandler’s price target indicates a potential upside of 12.83% from the stock’s current price.

Separately, Zacks Research downgraded NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NB Bancorp presently has a consensus rating of “Hold” and a consensus target price of $24.00.

NB Bancorp Price Performance

NASDAQ:NBBK traded up $0.45 during trading hours on Monday, reaching $21.27. 111,723 shares of the company were exchanged, compared to its average volume of 339,674. The business has a 50 day moving average of $21.14 and a 200 day moving average of $19.71. NB Bancorp has a 1-year low of $15.09 and a 1-year high of $22.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.08 and a quick ratio of 1.06. The company has a market capitalization of $969.91 million, a P/E ratio of 15.87 and a beta of 0.34.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.71. The firm had revenue of $63.36 million during the quarter, compared to analysts’ expectations of $75.75 million. NB Bancorp had a return on equity of 8.58% and a net margin of 14.30%. Research analysts forecast that NB Bancorp will post 1.39 EPS for the current year.

Insider Buying and Selling

In related news, CEO Joseph P. Campanelli bought 5,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were purchased at an average price of $20.77 per share, for a total transaction of $103,850.00. Following the completion of the transaction, the chief executive officer directly owned 47,000 shares of the company’s stock, valued at approximately $976,190. This represents a 11.90% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of NB Bancorp by 75.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock worth $25,000 after buying an additional 553 shares during the period. State of Alaska Department of Revenue acquired a new position in NB Bancorp in the third quarter valued at $28,000. Kestra Advisory Services LLC bought a new stake in NB Bancorp during the fourth quarter valued at $46,000. CWM LLC grew its holdings in NB Bancorp by 169.7% during the 3rd quarter. CWM LLC now owns 3,457 shares of the company’s stock worth $61,000 after acquiring an additional 2,175 shares during the period. Finally, SHP Wealth Management acquired a new stake in NB Bancorp during the 4th quarter worth about $68,000.

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.