NB Bancorp (NASDAQ:NBBK) Price Target Raised to $25.00

NB Bancorp (NASDAQ:NBBK) had its price objective boosted by Keefe, Bruyette & Woods from $24.00 to $25.00 in a research note issued to investors on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

NBBK has been the subject of a number of other reports. Weiss Ratings upgraded NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Zacks Research raised NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Finally, Piper Sandler upped their price target on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, NB Bancorp has an average rating of “Buy” and a consensus price target of $25.50.

NB Bancorp Trading Up 0.4%

NBBK opened at $22.74 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.07 and a quick ratio of 1.06. NB Bancorp has a fifty-two week low of $16.76 and a fifty-two week high of $23.27. The company’s 50 day moving average price is $20.83 and its two-hundred day moving average price is $20.96. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 15.06 and a beta of 0.03.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.07. The firm had revenue of $74.70 million during the quarter, compared to the consensus estimate of $72.74 million. NB Bancorp had a net margin of 14.27% and a return on equity of 9.21%. As a group, research analysts predict that NB Bancorp will post 2.13 earnings per share for the current year.

NB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. NB Bancorp’s payout ratio is currently 18.54%.

Insider Activity at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $19.18 per share, for a total transaction of $57,540.00. Following the transaction, the chief executive officer directly owned 377,790 shares in the company, valued at approximately $7,246,012.20. This trade represents a 0.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NB Bancorp

Several institutional investors have recently added to or reduced their stakes in NBBK. Pertento Partners LLP grew its position in shares of NB Bancorp by 10.9% during the 4th quarter. Pertento Partners LLP now owns 2,343,776 shares of the company’s stock worth $46,454,000 after buying an additional 229,440 shares during the period. Vanguard Group Inc. lifted its position in shares of NB Bancorp by 18.0% during the 4th quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock valued at $45,606,000 after acquiring an additional 350,899 shares during the period. Geode Capital Management LLC boosted its stake in NB Bancorp by 10.3% during the fourth quarter. Geode Capital Management LLC now owns 966,662 shares of the company’s stock worth $19,162,000 after acquiring an additional 90,014 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in NB Bancorp by 27.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock worth $12,266,000 after acquiring an additional 148,472 shares in the last quarter. Finally, AltraVue Capital LLC bought a new position in NB Bancorp during the fourth quarter worth $13,735,000.

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.