NB Bancorp (NASDAQ:NBBK) Hits New 1-Year High – What’s Next?

Shares of NB Bancorp, Inc. (NASDAQ:NBBK) hit a new 52-week high during trading on Wednesday . The company traded as high as $20.48 and last traded at $20.40, with a volume of 68925 shares trading hands. The stock had previously closed at $19.22.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their target price on shares of NB Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st.

NB Bancorp Stock Up 6.6 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50-day moving average of $18.34 and a 200 day moving average of $16.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBBK. BNP Paribas Financial Markets purchased a new stake in NB Bancorp in the 1st quarter valued at about $85,000. Janney Montgomery Scott LLC purchased a new stake in shares of NB Bancorp during the 1st quarter valued at approximately $273,000. Oppenheimer & Close LLC boosted its holdings in shares of NB Bancorp by 22.1% in the first quarter. Oppenheimer & Close LLC now owns 82,999 shares of the company’s stock worth $1,134,000 after acquiring an additional 15,000 shares during the period. Vanguard Group Inc. bought a new position in NB Bancorp in the 1st quarter worth about $27,058,000. Finally, Stieven Capital Advisors L.P. bought a new position in shares of NB Bancorp in the first quarter valued at approximately $5,037,000.

About NB Bancorp

NB Bancorp, Inc focuses on operating as a bank holding company for Needham Bank that provides various banking products and services in Greater Boston metropolitan area and surrounding communities in Massachusetts, eastern Connecticut, southern New Hampshire, and Rhode Island. The company offers various deposits, including certificate of deposit, individual retirement, money market, savings, NOW, demand deposit, and interest-bearing and noninterest-bearing checking accounts; and commercial real estate and multifamily, one- to four-family residential real estate, construction and land development, commercial and industrial, and consumer loans, as well as home equity loans and lines of credit.