NB Bancorp (NASDAQ:NBBK) Sees Strong Trading Volume – What’s Next?

NB Bancorp, Inc. (NASDAQ:NBBK) saw unusually-strong trading volume on Monday . Approximately 395,280 shares traded hands during trading, an increase of 64% from the previous session’s volume of 241,471 shares.The stock last traded at $19.0360 and had previously closed at $19.29.

Analyst Ratings Changes

Several research firms recently commented on NBBK. Keefe, Bruyette & Woods upgraded shares of NB Bancorp to a “hold” rating in a report on Sunday, November 2nd. Piper Sandler raised their target price on shares of NB Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Weiss Ratings upgraded shares of NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, Zacks Research upgraded NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, NB Bancorp has an average rating of “Moderate Buy” and a consensus price target of $22.00.

NB Bancorp Stock Down 0.2%

The firm’s 50 day moving average price is $18.08 and its two-hundred day moving average price is $17.87. The firm has a market capitalization of $750.68 million, a PE ratio of 12.13 and a beta of 0.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.06.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $51.73 million for the quarter, compared to the consensus estimate of $52.40 million. NB Bancorp had a net margin of 17.59% and a return on equity of 7.79%. As a group, research analysts forecast that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.

NB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 5th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. NB Bancorp’s dividend payout ratio is currently 18.06%.

Insider Transactions at NB Bancorp

In other NB Bancorp news, Director Hope Pascucci bought 4,688 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were bought at an average cost of $18.07 per share, with a total value of $84,712.16. Following the transaction, the director directly owned 120,000 shares in the company, valued at approximately $2,168,400. This trade represents a 4.07% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Piper Sandler & CO. acquired a new position in NB Bancorp in the first quarter worth $716,000. American Century Companies Inc. increased its stake in shares of NB Bancorp by 8.0% in the first quarter. American Century Companies Inc. now owns 25,697 shares of the company’s stock valued at $464,000 after purchasing an additional 1,903 shares during the period. Panagora Asset Management Inc. raised its stake in NB Bancorp by 24.9% during the 1st quarter. Panagora Asset Management Inc. now owns 181,282 shares of the company’s stock valued at $3,276,000 after acquiring an additional 36,099 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of NB Bancorp by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,108,757 shares of the company’s stock valued at $38,105,000 after purchasing an additional 21,932 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of NB Bancorp by 4.8% in the 1st quarter. Swiss National Bank now owns 78,600 shares of the company’s stock worth $1,420,000 after acquiring an additional 3,600 shares during the period.

NB Bancorp Company Profile

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.