NB Bancorp (NASDAQ:NBBK) Reaches New 12-Month High – Here’s What Happened

NB Bancorp, Inc. (NASDAQ:NBBK)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $22.31 and last traded at $22.05, with a volume of 391416 shares traded. The stock had previously closed at $21.72.

Wall Street Analysts Forecast Growth

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

NB Bancorp Trading Up 1.5%

The firm has a fifty day moving average of $20.41 and a 200 day moving average of $18.97. The firm has a market capitalization of $878.25 million, a PE ratio of 16.46 and a beta of 0.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.07 and a current ratio of 1.07.

NB Bancorp (NASDAQ:NBBK) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. The company had revenue of $63.15 million during the quarter, compared to the consensus estimate of $75.75 million. NB Bancorp had a net margin of 14.30% and a return on equity of 8.94%. Equities research analysts expect that NB Bancorp, Inc. will post 1.39 EPS for the current year.

NB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Thursday, February 5th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, February 5th. NB Bancorp’s dividend payout ratio (DPR) is presently 20.90%.

Hedge Funds Weigh In On NB Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in shares of NB Bancorp during the third quarter worth about $28,000. CWM LLC grew its stake in NB Bancorp by 169.7% during the 3rd quarter. CWM LLC now owns 3,457 shares of the company’s stock valued at $61,000 after purchasing an additional 2,175 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in NB Bancorp by 1,640.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,945 shares of the company’s stock worth $123,000 after purchasing an additional 6,546 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of NB Bancorp by 464.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,022 shares of the company’s stock valued at $143,000 after purchasing an additional 6,602 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of NB Bancorp during the 3rd quarter valued at approximately $156,000.

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.