NB Bancorp (NASDAQ:NBBK) Posts Earnings Results, Misses Estimates By $0.16 EPS
by Kim Johansen · The Markets DailyNB Bancorp (NASDAQ:NBBK – Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.16), Zacks reports. The business had revenue of $69.38 million during the quarter, compared to the consensus estimate of $70.83 million. NB Bancorp had a return on equity of 8.75% and a net margin of 13.81%.
NB Bancorp Trading Up 0.8%
Shares of NBBK stock traded up $0.16 on Friday, reaching $19.32. 74,502 shares of the company’s stock were exchanged, compared to its average volume of 315,739. The company’s fifty day simple moving average is $21.46 and its 200 day simple moving average is $20.29. The stock has a market capitalization of $872.46 million, a PE ratio of 14.10 and a beta of 0.37. NB Bancorp has a 52 week low of $15.44 and a 52 week high of $22.86. The company has a current ratio of 1.08, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23.
NB Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, May 6th. NB Bancorp’s dividend payout ratio (DPR) is currently 20.90%.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on NBBK shares. Piper Sandler dropped their price objective on NB Bancorp from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday. Zacks Research lowered NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NB Bancorp in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.00.
View Our Latest Report on NBBK
Insider Buying and Selling
In other news, CEO Joseph P. Campanelli acquired 5,000 shares of NB Bancorp stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $20.77 per share, for a total transaction of $103,850.00. Following the acquisition, the chief executive officer directly owned 47,000 shares of the company’s stock, valued at $976,190. This trade represents a 11.90% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders acquired 8,500 shares of company stock worth $174,670. Company insiders own 5.10% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of NBBK. AQR Capital Management LLC purchased a new position in NB Bancorp during the 1st quarter worth $253,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NB Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company’s stock worth $418,000 after purchasing an additional 975 shares during the period. Millennium Management LLC increased its holdings in NB Bancorp by 13.1% during the 1st quarter. Millennium Management LLC now owns 253,543 shares of the company’s stock worth $4,582,000 after purchasing an additional 29,373 shares during the period. Jane Street Group LLC increased its holdings in NB Bancorp by 54.3% during the 1st quarter. Jane Street Group LLC now owns 54,613 shares of the company’s stock worth $987,000 after purchasing an additional 19,213 shares during the period. Finally, Legal & General Group Plc increased its holdings in NB Bancorp by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 62,014 shares of the company’s stock worth $1,108,000 after purchasing 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.