Joseph Campanelli Acquires 3,000 Shares of NB Bancorp (NASDAQ:NBBK) Stock

NB Bancorp, Inc. (NASDAQ:NBBK) CEO Joseph Campanelli purchased 3,000 shares of the stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $19.18 per share, for a total transaction of $57,540.00. Following the completion of the acquisition, the chief executive officer directly owned 377,790 shares of the company’s stock, valued at approximately $7,246,012.20. This trade represents a 0.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

NB Bancorp Stock Performance

NBBK stock opened at $19.52 on Wednesday. The company has a 50-day simple moving average of $20.85 and a 200 day simple moving average of $20.57. The company has a market capitalization of $872.74 million, a P/E ratio of 14.25 and a beta of 0.06. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. NB Bancorp, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $22.86.

NB Bancorp (NASDAQ:NBBK) last released its earnings results on Wednesday, April 22nd. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.16). The company had revenue of $69.38 million for the quarter, compared to analyst estimates of $70.83 million. NB Bancorp had a net margin of 13.81% and a return on equity of 8.57%. Sell-side analysts predict that NB Bancorp, Inc. will post 2.02 earnings per share for the current fiscal year.

NB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $0.28 annualized dividend and a yield of 1.4%. NB Bancorp’s payout ratio is presently 20.44%.

Analysts Set New Price Targets

NBBK has been the subject of a number of research reports. Piper Sandler decreased their price target on NB Bancorp from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Zacks Research downgraded NB Bancorp from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NB Bancorp in a report on Thursday, April 2nd. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.00.

Institutional Trading of NB Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AltraVue Capital LLC acquired a new position in NB Bancorp in the fourth quarter worth approximately $13,735,000. Tieton Capital Management LLC acquired a new stake in shares of NB Bancorp during the 4th quarter valued at $10,404,000. Vanguard Group Inc. boosted its stake 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 worth $45,606,000 after acquiring an additional 350,899 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of NB Bancorp during the 4th quarter worth $5,709,000. Finally, UBS Group AG grew its holdings in shares of NB Bancorp by 264.4% in the 3rd quarter. UBS Group AG now owns 378,353 shares of the company’s stock worth $6,678,000 after acquiring an additional 274,511 shares during the last quarter.

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.