NB Bancorp (NASDAQ:NBBK) Stock Rating Lowered by Zacks Research

NB Bancorp (NASDAQ:NBBK) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

A number of other equities analysts also recently issued reports on NBBK. Keefe, Bruyette & Woods increased their price target on NB Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Piper Sandler raised their price objective on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Wall Street Zen cut NB Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings raised NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

NB Bancorp Trading Up 0.2%

Shares of NB Bancorp stock opened at $22.78 on Monday. The firm has a 50-day simple moving average of $22.51 and a two-hundred day simple moving average of $21.33. The company has a market cap of $998.22 million, a P/E ratio of 15.09 and a beta of -0.01. NB Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $23.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.06.

NB Bancorp (NASDAQ:NBBK) last posted its earnings results on Wednesday, July 22nd. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. NB Bancorp had a return on equity of 9.13% and a net margin of 14.27%. As a group, equities analysts predict that NB Bancorp will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling at NB Bancorp

In other NB Bancorp news, CEO Joseph Campanelli purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $21.75 per share, for a total transaction of $43,500.00. Following the completion of the transaction, the chief executive officer owned 379,790 shares of the company’s stock, valued at $8,260,432.50. The trade was a 0.53% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of NB Bancorp in the second quarter valued at approximately $70,396,000. State Street Corp lifted its position in NB Bancorp by 13.8% during the second quarter. State Street Corp now owns 1,471,766 shares of the company’s stock worth $31,098,000 after buying an additional 178,228 shares in the last quarter. AltraVue Capital LLC acquired a new position in NB Bancorp during the fourth quarter worth $13,735,000. Tieton Capital Management LLC acquired a new position in NB Bancorp during the second quarter worth $11,550,000. Finally, Dimensional Fund Advisors LP grew its holdings in NB Bancorp by 81.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 522,384 shares of the company’s stock valued at $11,006,000 after buying an additional 234,356 shares in the last quarter.

NB Bancorp Company Profile

NB Bancorp, Inc is the bank holding company for Needham Bank, a community bank headquartered in Needham, Massachusetts. Through its banking subsidiary, the company provides financial services to individuals, families, businesses, nonprofit organizations and municipalities.

Needham Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, construction financing, consumer loans and other traditional banking services. The bank also provides cash management, online and mobile banking, treasury services and wealth management solutions designed to support personal and business financial needs.

Founded in 1892, Needham Bank primarily serves communities in eastern Massachusetts and southern New Hampshire through its branch network and digital banking channels.