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Jean-Pierre Lapointe, Executive Vice President and Chief Financial Officer of NB Bancorp , Inc. (NASDAQ:NBBK), has recently acquired 900 shares of the company's common stock. The purchase was made at a price of $18.85 per share, amounting to a total transaction value of $16,965. The stock, which has gained over 24% in the past year and currently trades at $19.09, appears overvalued according to InvestingPro's Fair Value model. Following this acquisition, Lapointe now directly owns a total of 4,200 shares. Additionally, through indirect ownership via a 401(k), he holds 3,420 shares, which reflects transactions not required to be reported under Section 16 of the Securities Act. With a market capitalization of $786 million and a P/E ratio of 59.7, NBBK shows strong momentum despite its premium valuation. InvestingPro subscribers can access additional insights, including 6 more ProTips and comprehensive insider trading patterns.
In other recent news, NB Bancorp has seen a series of noteworthy developments. The company's third-quarter financial results for 2024 revealed an earnings per share (EPS) of $0.21. Adjusting for securities restructuring and other nonrecurring items, financial services firm Piper Sandler calculated a core EPS of $0.33, surpassing their estimate by $0.07. This performance resulted in a 1% core return on assets (ROA) and a 5.9% core return on tangible common equity (ROTCE).
Piper Sandler, currently the sole provider of estimates for NB Bancorp, has adjusted its price target on the bank's stock, increasing it to $22.00 from the previous $21.00 while maintaining its Overweight rating. The firm's analysis did not remove the impact of a $2.4 million provision release related to unfunded commitments, which would have added approximately $0.05 to the core EPS. These are among the recent developments for NB Bancorp, underscoring the importance of keeping abreast with the latest financial reports.
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