NB Bancorp (NASDAQ:NBBK) Reaches New 52-Week High – Here’s What Happened

NB Bancorp, Inc. (NASDAQ:NBBK) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $20.48 and last traded at $20.40, with a volume of 68925 shares trading hands. The stock had previously closed at $19.22.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their price target on shares of NB Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st.

NB Bancorp Stock Up 6.6 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a 50 day moving average price of $18.34 and a two-hundred day moving average price of $16.81.

Institutional Trading of NB Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of NB Bancorp during the second quarter worth $26,000. Fairfield Financial Advisors LTD bought a new position in shares of NB Bancorp in the 2nd quarter worth about $30,000. BNP Paribas Financial Markets acquired a new position in shares of NB Bancorp in the 1st quarter valued at about $85,000. Acadian Asset Management LLC bought a new stake in shares of NB Bancorp during the 2nd quarter valued at about $95,000. Finally, International Assets Investment Management LLC acquired a new stake in NB Bancorp during the second quarter worth approximately $104,000.

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.