NB Bancorp (NASDAQ:NBBK) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of NB Bancorp (NASDAQ:NBBK) from a buy rating to a hold rating in a research note issued to investors on Saturday.

A number of other brokerages also recently issued reports on NBBK. Piper Sandler increased their price objective on shares of NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Zacks Research raised NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Weiss Ratings raised shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on NB Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $25.50.

NB Bancorp Stock Performance

NBBK stock opened at $21.98 on Friday. The company has a fifty day moving average price of $21.68 and a two-hundred day moving average price of $21.21. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.06 and a quick ratio of 1.05. The stock has a market cap of $963.16 million and a price-to-earnings ratio of 14.56. NB Bancorp has a one year low of $16.83 and a one year high of $23.47.

NB Bancorp (NASDAQ:NBBK) last posted its earnings results on Wednesday, July 22nd. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.48 by $0.07. NB Bancorp had a return on equity of 9.13% and a net margin of 14.27%. Equities analysts anticipate that NB Bancorp will post 2.13 EPS for the current year.

NB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, August 5th. NB Bancorp’s dividend payout ratio (DPR) is currently 18.54%.

Insider Buying and Selling

In related news, CEO Joseph P. Campanelli acquired 2,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was purchased at an average cost of $21.75 per share, with a total value of $43,500.00. Following the completion of the purchase, the chief executive officer directly owned 379,790 shares in the company, valued at $8,260,432.50. This trade represents a 0.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On NB Bancorp

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in shares of NB Bancorp by 75.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock valued at $25,000 after acquiring an additional 553 shares during the period. Kestra Advisory Services LLC bought a new position in shares of NB Bancorp in the fourth quarter worth approximately $46,000. SHP Wealth Management purchased a new position in shares of NB Bancorp in the fourth quarter valued at about $68,000. Larson Financial Group LLC increased its holdings in NB Bancorp by 577.1% during the 4th quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock valued at $72,000 after purchasing an additional 3,093 shares during the period. Finally, Allworth Financial LP increased its stake in shares of NB Bancorp by 64,733.3% during the fourth quarter. Allworth Financial LP now owns 5,835 shares of the company’s stock valued at $116,000 after buying an additional 5,826 shares during the period.

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.