NB Bancorp (NASDAQ:NBBK) Hits New 52-Week High – Here’s What Happened
by Amy Steele · The Cerbat GemNB Bancorp, Inc. (NASDAQ:NBBK – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $22.75 and last traded at $22.36, with a volume of 14508 shares changing hands. The stock had previously closed at $22.64.
Analysts Set New Price Targets
A number of research firms recently issued reports on NBBK. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NB Bancorp in a report on Thursday, April 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $24.00 price target on shares of NB Bancorp in a report on Monday, March 16th. Finally, Zacks Research lowered NB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.
Read Our Latest Report on NB Bancorp
NB Bancorp Price Performance
The stock has a market capitalization of $1.01 billion, a P/E ratio of 16.67 and a beta of 0.37. The company has a current ratio of 1.08, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $21.48 and a two-hundred day simple moving average of $20.01.
NB Bancorp (NASDAQ:NBBK – Get Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.71. The firm had revenue of $63.36 million during the quarter, compared to analysts’ expectations of $75.75 million. NB Bancorp had a return on equity of 8.58% and a net margin of 14.30%. Sell-side analysts expect that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.
NB Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, February 5th. NB Bancorp’s payout ratio is currently 20.90%.
Insiders Place Their Bets
In other news, CEO Joseph P. Campanelli acquired 2,500 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was purchased at an average cost of $20.16 per share, with a total value of $50,400.00. Following the acquisition, the chief executive officer owned 396,661 shares of the company’s stock, valued at $7,996,685.76. This trade represents a 0.63% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders bought 8,500 shares of company stock worth $174,670. Insiders own 5.10% of the company’s stock.
Institutional Trading of NB Bancorp
A number of hedge funds have recently modified their holdings of NBBK. AQR Capital Management LLC acquired a new stake in shares of NB Bancorp in the 1st quarter valued at approximately $253,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NB Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company’s stock valued at $418,000 after acquiring an additional 975 shares during the period. Millennium Management LLC raised its position in shares of NB Bancorp by 13.1% in the 1st quarter. Millennium Management LLC now owns 253,543 shares of the company’s stock valued at $4,582,000 after acquiring an additional 29,373 shares during the period. Jane Street Group LLC raised its position in shares of NB Bancorp by 54.3% in the 1st quarter. Jane Street Group LLC now owns 54,613 shares of the company’s stock valued at $987,000 after acquiring an additional 19,213 shares during the period. Finally, Legal & General Group Plc raised its position in shares of NB Bancorp by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 62,014 shares of the company’s stock valued at $1,108,000 after acquiring an additional 2,237 shares during the period.
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.