Joseph Campanelli Acquires 2,000 Shares of NB Bancorp (NASDAQ:NBBK) Stock

NB Bancorp, Inc. (NASDAQ:NBBK) CEO Joseph Campanelli purchased 2,000 shares of NB Bancorp stock in a transaction on Thursday, August 20th. The stock was bought at an average price of $21.75 per share, with a total value of $43,500.00. Following the transaction, the chief executive officer owned 379,790 shares of the company’s stock, valued at approximately $8,260,432.50. This represents a 0.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NB Bancorp Price Performance

NBBK stock opened at $21.98 on Friday. NB Bancorp, Inc. has a twelve month low of $16.83 and a twelve month high of $23.47. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. The stock has a market cap of $963.16 million and a P/E ratio of 14.56. The business’s 50-day moving average price is $21.68 and its 200-day moving average price is $21.21.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 earnings per share (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%. On average, equities research analysts forecast that NB Bancorp, Inc. will post 2.13 EPS for the current year.

NB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, August 5th. NB Bancorp’s dividend payout ratio is presently 18.54%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NBBK. Wall Street Zen cut shares of NB Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday. Keefe, Bruyette & Woods raised their price target on NB Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Piper Sandler boosted their price objective on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Zacks Research raised NB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings upgraded NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $25.50.

Hedge Funds Weigh In On NB Bancorp

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in NB Bancorp by 75.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock valued at $25,000 after acquiring an additional 553 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in NB Bancorp in the 4th quarter worth $46,000. SHP Wealth Management purchased a new stake in NB Bancorp in the 4th quarter worth $68,000. Larson Financial Group LLC boosted its holdings in shares of NB Bancorp by 577.1% during the 4th quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock valued at $72,000 after purchasing an additional 3,093 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of NB Bancorp by 64,733.3% during the 4th quarter. Allworth Financial LP now owns 5,835 shares of the company’s stock valued at $116,000 after purchasing an additional 5,826 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.