NB Bancorp, Inc. Common Stock logo NBBK - NB Bancorp, Inc. Common Stock

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 1
HOLD 0
SELL 0
STRONG
SELL 0
| PRICE TARGET: $24.00 DETAILS
HIGH: $24.00
LOW: $24.00
MEDIAN: $24.00
CONSENSUS: $24.00
UPSIDE: 13.48%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Banks, Insurers & Asset Managers 85% confidence

Primary model: P/Tangible Book × ROE Quality

Valuation Signal Overvalued Mild
Trading 1.0% above fair value
Current Price $21.15
Bear Case $5.95 71.9% downside ($5.95 - $21.15) / $21.15 = -71.9% ROTCE 4.6% → 0.30x TBV
Fair Value $20.95 0.9% downside ($20.95 - $21.15) / $21.15 = -0.9% ROTCE 6.1% → 1.06x TBV
Bull Case $30.04 42.0% upside ($30.04 - $21.15) / $21.15 = 42.0% ROTCE 7.0% → 1.52x TBV

Adjust Assumptions

6.1%
6.0%

Key Value Driver

ROTCE (6.1%) vs. cost of equity (6.0%)

Implied Market Multiple 1.07x

Plain-Language Summary

With ROTCE of 6.1% vs. 6.0% cost of equity, fair P/TBV is 1.06x on $19.83 tangible book, implying $20.95 per share.

Warnings

⚠ Traditional cash flow models don't work well for banks — lending activity distorts how much cash the business actually generates.
⚠ Common valuation shortcuts don't apply here — for banks, interest payments are a core business cost, not overhead.

Key Risks

  • Book value quality matters as much as level — check loan loss reserves
  • Interest rate sensitivity creates non-linear earnings surprises
  • Insurance reserving is actuarial, not financial — errors emerge slowly