NB Bancorp (NASDAQ:NBBK) Stock Price Expected to Rise, Piper Sandler Analyst Says

NB Bancorp (NASDAQ:NBBKGet Free Report) had its target price boosted by research analysts at Piper Sandler from $21.00 to $22.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 15.42% from the company’s current price.

NB Bancorp Stock Performance

Shares of NASDAQ:NBBK traded up $0.32 during trading on Thursday, reaching $19.06. 154,479 shares of the stock traded hands, compared to its average volume of 345,786. The stock has a 50-day moving average of $18.31 and a two-hundred day moving average of $16.64. NB Bancorp has a 52-week low of $13.10 and a 52-week high of $19.45. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.08.

Insider Buying and Selling

In related news, CFO Jean-Pierre Lapointe bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $17.49 per share, for a total transaction of $52,470.00. Following the completion of the acquisition, the chief financial officer now owns 3,300 shares of the company’s stock, valued at $57,717. This trade represents a 1,000.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NB Bancorp news, CEO Joseph P. Campanelli purchased 5,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $17.49 per share, for a total transaction 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. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jean-Pierre Lapointe purchased 3,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $17.49 per share, for a total transaction of $52,470.00. Following the purchase, the chief financial officer now directly owns 3,300 shares in the company, valued at approximately $57,717. The trade was a 1,000.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 11,500 shares of company stock worth $198,675. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. purchased a new position in shares of NB Bancorp during the 1st quarter worth $27,058,000. Endeavour Capital Advisors Inc. boosted its stake in shares of NB Bancorp by 32.7% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 181,769 shares of the company’s stock worth $2,741,000 after acquiring an additional 44,780 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of NB Bancorp during the 2nd quarter worth $1,820,000. Prospector Partners LLC purchased a new position in shares of NB Bancorp during the 2nd quarter worth $3,653,000. Finally, SG Americas Securities LLC boosted its stake in shares of NB Bancorp by 48.5% during the 3rd quarter. SG Americas Securities LLC now owns 26,291 shares of the company’s stock worth $488,000 after acquiring an additional 8,589 shares during the last quarter.

About NB Bancorp

(Get Free Report)

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.

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