NB Bancorp (NASDAQ:NBBK) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

NB Bancorp (NASDAQ:NBBK) issued its earnings results on Thursday. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02, FiscalAI reports. The firm had revenue of $63.15 million for the quarter, compared to the consensus estimate of $75.75 million. NB Bancorp had a return on equity of 8.94% and a net margin of 14.30%.

NB Bancorp Stock Performance

Shares of NBBK opened at $20.40 on Friday. The stock has a 50 day moving average of $20.12 and a 200 day moving average of $18.86. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $812.45 million, a price-to-earnings ratio of 15.22 and a beta of 0.32. NB Bancorp has a 12 month low of $15.09 and a 12 month high of $21.58.

NB Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, February 5th. NB Bancorp’s dividend payout ratio (DPR) is currently 20.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Zacks Research downgraded shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Keefe, Bruyette & Woods upgraded shares of NB Bancorp to a “hold” rating in a research report on Sunday, November 2nd. Weiss Ratings raised NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of NB Bancorp in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.00.

Insider Buying and Selling

In related news, Director Hope Pascucci bought 4,688 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were purchased at an average cost of $18.07 per share, for a total transaction of $84,712.16. Following the completion of the purchase, the director directly owned 120,000 shares in the company, valued at $2,168,400. The trade was a 4.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On NB Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC lifted its position in shares of NB Bancorp by 27.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock valued at $12,266,000 after buying an additional 148,472 shares during the last quarter. UBS Group AG lifted its holdings in NB Bancorp by 264.4% during 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. Marshall Wace LLP boosted its position in NB Bancorp by 165.9% during the second quarter. Marshall Wace LLP now owns 315,460 shares of the company’s stock worth $5,634,000 after purchasing an additional 196,837 shares during the period. Millennium Management LLC increased its stake in shares of NB Bancorp by 13.1% in the first quarter. Millennium Management LLC now owns 253,543 shares of the company’s stock worth $4,582,000 after purchasing an additional 29,373 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of NB Bancorp by 45.8% in the third quarter. Two Sigma Investments LP now owns 205,869 shares of the company’s stock valued at $3,634,000 after purchasing an additional 64,635 shares during the period.

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.