NECB - Bank Buzz: NB Bancorp Is Priced Below Liquidation Value And Insiders Are Buying
2024-03-11 15:40:34 ET
Summary
- Our strategy is to invest in banks trading below tangible book value with overcapitalized balance sheets, solid asset quality, and shareholder-friendly management teams.
- We recap the last four weeks and highlight a few interesting ideas, including BLFY and NBBK.
- Despite an active share repurchase program and the potential to be acquired in 2H24, BLFY trades at <65% of tangible book value.
- NBBK is an attractive investment with an inexpensive valuation, strong balance sheet, and moderate organic growth potential, offering a potential total return of ~25% over the next 24 months.
Background
Welcome back to the fifth edition of Bank Buzz, where we cover the community bank sector, with a specific focus on mutual conversions, our favorite niche within a niche....
Bank Buzz: NB Bancorp Is Priced Below Liquidation Value And Insiders Are Buying