NB Bancorp (NASDAQ:NBBK) Reaches New 12-Month High on Analyst Upgrade

NB Bancorp, Inc. (NASDAQ:NBBK) reached a new 52-week high on Thursday after Piper Sandler raised their price target on the stock from $21.00 to $22.00. Piper Sandler currently has an overweight rating on the stock. NB Bancorp traded as high as $19.40 and last traded at $19.38, with a volume of 87677 shares trading hands. The stock had previously closed at $18.74.

Insider Buying and Selling

In other NB Bancorp news, CEO Joseph P. Campanelli bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $16.44 per share, with a total value of $49,320.00. Following the completion of the purchase, the chief executive officer now directly owns 53,000 shares of the company’s stock, valued at $871,320. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is owned by insiders.

Institutional Trading of NB Bancorp

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in shares of NB Bancorp during the first quarter valued at approximately $27,058,000. EJF Capital LLC raised its holdings in NB Bancorp by 90.5% in the 1st quarter. EJF Capital LLC now owns 390,617 shares of the company’s stock worth $5,336,000 after acquiring an additional 185,617 shares during the last quarter. Stieven Capital Advisors L.P. purchased a new position in NB Bancorp in the 1st quarter worth approximately $5,037,000. Prospector Partners LLC purchased a new position in NB Bancorp in the 2nd quarter worth approximately $3,653,000. Finally, Raffles Associates LP raised its stake in NB Bancorp by 101.5% during the 2nd quarter. Raffles Associates LP now owns 223,019 shares of the company’s stock valued at $3,363,000 after buying an additional 112,319 shares during the last quarter.

NB Bancorp Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.10 and a current ratio of 1.10. The business’s 50 day simple moving average is $18.33 and its two-hundred day simple moving average is $16.69.

NB Bancorp Company Profile

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.