NB Bancorp (NASDAQ:NBBK) Announces Quarterly Earnings Results
by Teresa Graham · The Cerbat GemNB Bancorp (NASDAQ:NBBK – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.14), Zacks reports. NB Bancorp had a net margin of 14.30% and a return on equity of 8.58%.
NB Bancorp Stock Down 0.6%
Shares of NASDAQ NBBK traded down $0.13 during midday trading on Wednesday, hitting $21.45. The company’s stock had a trading volume of 275,725 shares, compared to its average volume of 309,458. The business’s fifty day simple moving average is $21.51 and its two-hundred day simple moving average is $20.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.08 and a quick ratio of 1.06. NB Bancorp has a 1 year low of $15.44 and a 1 year high of $22.86. The firm has a market capitalization of $968.90 million, a price-to-earnings ratio of 16.01 and a beta of 0.37.
NB Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. NB Bancorp’s dividend payout ratio (DPR) is presently 20.90%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on NBBK shares. Piper Sandler reissued an “overweight” rating and issued a $24.00 price objective on shares of NB Bancorp in a research note on Monday, March 16th. Weiss Ratings reissued a “hold (c)” rating on shares of NB Bancorp in a research note on Thursday, April 2nd. Finally, Zacks Research lowered shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.00.
Get Our Latest Research Report on NBBK
Insiders Place Their Bets
In other news, CEO Joseph P. Campanelli bought 2,500 shares of NB Bancorp stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average price of $20.16 per share, with a total value of $50,400.00. Following the completion of the acquisition, the chief executive officer directly owned 396,661 shares in the company, valued at $7,996,685.76. The trade was a 0.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 8,500 shares of company stock valued at $174,670 over the last 90 days. 5.10% of the stock is owned by company insiders.
Institutional Trading of NB Bancorp
Several hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in NB Bancorp by 19.8% in the fourth quarter. Invesco Ltd. now owns 63,337 shares of the company’s stock valued at $1,255,000 after acquiring an additional 10,461 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in NB Bancorp in the fourth quarter valued at approximately $331,000. Empowered Funds LLC raised its holdings in NB Bancorp by 91.9% in the fourth quarter. Empowered Funds LLC now owns 153,150 shares of the company’s stock valued at $3,035,000 after acquiring an additional 73,338 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in NB Bancorp by 71.2% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 29,022 shares of the company’s stock valued at $575,000 after acquiring an additional 12,071 shares in the last quarter. Finally, Occudo Quantitative Strategies LP raised its holdings in NB Bancorp by 73.2% in the fourth quarter. Occudo Quantitative Strategies LP now owns 32,155 shares of the company’s stock valued at $637,000 after acquiring an additional 13,594 shares in 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.