NB Bancorp (NASDAQ:NBBK) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of NB Bancorp (NASDAQ:NBBK) in a report published on Tuesday, Marketbeat.com reports. The firm issued an overweight rating and a $17.00 price target on the stock.

NB Bancorp Stock Performance

NASDAQ NBBK opened at $13.40 on Tuesday. The company’s 50 day moving average price is $13.82. NB Bancorp has a twelve month low of $13.10 and a twelve month high of $14.85.

Insiders Place Their Bets

In related news, Director Joseph R. Nolan, Jr. bought 10,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were acquired at an average cost of $13.50 per share, with a total value of $135,000.00. Following the completion of the acquisition, the director now owns 10,100 shares of the company’s stock, valued at approximately $136,350. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NB Bancorp news, CEO Joseph P. Campanelli purchased 4,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was purchased at an average price of $13.85 per share, for a total transaction of $55,400.00. Following the completion of the purchase, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $415,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph R. Nolan, Jr. purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was acquired at an average price of $13.50 per share, with a total value of $135,000.00. Following the purchase, the director now directly owns 10,100 shares of the company’s stock, valued at $136,350. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 53,740 shares of company stock valued at $746,205.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NBBK. Wellington Management Group LLP purchased a new stake in NB Bancorp during the fourth quarter valued at $7,232,000. Great Oak Capital Partners LLC purchased a new stake in NB Bancorp during the fourth quarter valued at $4,238,000. Stilwell Value LLC purchased a new stake in NB Bancorp during the fourth quarter valued at $1,076,000. Farley Capital L.P. bought a new stake in NB Bancorp during the fourth quarter valued at about $1,076,000. Finally, Goldman Sachs Group Inc. bought a new stake in NB Bancorp during the fourth quarter valued at about $1,074,000.

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.