NB Bancorp (NASDAQ:NBBK) Sets New 1-Year High – Here’s Why

NB Bancorp, Inc. (NASDAQ:NBBK)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $19.40 and last traded at $19.38, with a volume of 87677 shares changing hands. The stock had previously closed at $18.74.

Analyst Ratings Changes

Separately, Piper Sandler raised their price target on shares of NB Bancorp from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th.

NB Bancorp Trading Up 1.8 %

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $18.31 and a 200 day simple moving average of $16.64.

Insider Activity

In other NB Bancorp news, CEO Joseph P. Campanelli acquired 5,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $17.49 per share, with a total value of $87,450.00. Following the completion of the purchase, the chief executive officer now directly owns 50,000 shares in the company, valued at $874,500. The trade was a 0.00 % 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 the SEC website. In other NB Bancorp news, CFO Jean-Pierre Lapointe acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average cost of $17.49 per share, with a total value of $52,470.00. Following the completion of the acquisition, the chief financial officer now directly owns 3,300 shares in the company, valued at $57,717. This represents a 1,000.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph P. Campanelli acquired 5,000 shares of NB Bancorp stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $17.49 per share, with a total value of $87,450.00. Following the purchase, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at $874,500. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 11,500 shares of company stock worth $198,675. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NBBK. Vanguard Group Inc. purchased a new stake in shares of NB Bancorp during the 1st quarter worth $27,058,000. Endeavour Capital Advisors Inc. lifted its position in NB Bancorp by 32.7% during the second quarter. Endeavour Capital Advisors Inc. now owns 181,769 shares of the company’s stock valued at $2,741,000 after acquiring an additional 44,780 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in NB Bancorp in the second quarter valued at approximately $1,820,000. Prospector Partners LLC purchased a new position in NB Bancorp in the second quarter worth $3,653,000. Finally, SG Americas Securities LLC increased its position in shares of NB Bancorp by 48.5% during the third quarter. SG Americas Securities LLC now owns 26,291 shares of the company’s stock worth $488,000 after purchasing an additional 8,589 shares in the last quarter.

About NB Bancorp

NB Bancorp, Inc focuses on operating as a bank holding company for Needham Bank that provides various banking products and services in Greater Boston metropolitan area and surrounding communities in Massachusetts, eastern Connecticut, southern New Hampshire, and Rhode Island. The company offers various deposits, including certificate of deposit, individual retirement, money market, savings, NOW, demand deposit, and interest-bearing and noninterest-bearing checking accounts; and commercial real estate and multifamily, one- to four-family residential real estate, construction and land development, commercial and industrial, and consumer loans, as well as home equity loans and lines of credit.