Insider Buying: NB Bancorp (NASDAQ:NBBK) CEO Purchases $57,540.00 in Stock

NB Bancorp, Inc. (NASDAQ:NBBK) CEO Joseph Campanelli purchased 3,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of $19.18 per share, with a total value of $57,540.00. Following the transaction, the chief executive officer directly owned 377,790 shares in the company, valued at $7,246,012.20. This trade represents a 0.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

NB Bancorp Stock Performance

NASDAQ:NBBK opened at $19.85 on Thursday. NB Bancorp, Inc. has a 52 week low of $15.44 and a 52 week high of $22.86. The company has a fifty day simple moving average of $20.83 and a two-hundred day simple moving average of $20.58. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. The company has a market cap of $887.49 million, a price-to-earnings ratio of 14.49 and a beta of 0.06.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.38 earnings per share (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 analyst estimates 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 anticipate that NB Bancorp, Inc. will post 2.02 earnings per share for the current fiscal year.

NB Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. NB Bancorp’s dividend payout ratio (DPR) is currently 20.44%.

Hedge Funds Weigh In On NB Bancorp

Several large investors have recently bought and sold shares of the business. AltraVue Capital LLC acquired a new stake in shares of NB Bancorp during the 4th quarter worth about $13,735,000. Tieton Capital Management LLC purchased a new stake in NB Bancorp during the fourth quarter worth approximately $10,404,000. Vanguard Group Inc. boosted its holdings in NB Bancorp by 18.0% in the fourth quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock valued at $45,606,000 after purchasing an additional 350,899 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in NB Bancorp in the fourth quarter valued at approximately $5,709,000. Finally, UBS Group AG increased its stake in NB Bancorp by 264.4% in the third quarter. UBS Group AG now owns 378,353 shares of the company’s stock valued at $6,678,000 after purchasing an additional 274,511 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of NB Bancorp in a research report on Thursday, April 2nd. Piper Sandler reduced their target price on shares of NB Bancorp from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Finally, Zacks Research downgraded shares of NB Bancorp from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NB Bancorp has an average rating of “Hold” and an average target price of $24.00.

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.