Raffles Associates LP Makes New Investment in NB Bancorp, Inc. $NBBK

Raffles Associates LP purchased a new stake in shares of NB Bancorp, Inc. (NASDAQ:NBBK) in the 2nd quarter, HoldingsChannel reports. The fund purchased 31,874 shares of the company’s stock, valued at approximately $673,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in NB Bancorp in the second quarter worth $70,396,000. AltraVue Capital LLC acquired a new position in shares of NB Bancorp during the fourth quarter worth $13,735,000. Tieton Capital Management LLC purchased a new stake in shares of NB Bancorp during the 2nd quarter valued at $11,550,000. Vanguard Group Inc. lifted its holdings in shares of NB Bancorp by 18.0% during the 4th quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock valued at $45,606,000 after purchasing an additional 350,899 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in NB Bancorp during the 4th quarter worth $5,709,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research upgraded NB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Wall Street Zen downgraded shares of NB Bancorp from a “buy” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods increased their price objective on shares of NB Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Finally, Piper Sandler lifted their target price on shares of NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $25.50.

Insider Activity

In other NB Bancorp news, CEO Joseph P. Campanelli bought 2,000 shares of NB Bancorp stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $21.75 per share, with a total value of $43,500.00. Following the completion of the acquisition, the chief executive officer directly owned 379,790 shares in the company, valued at approximately $8,260,432.50. This trade represents a 0.53% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.10% of the stock is currently owned by company insiders.

NB Bancorp Trading Down 0.4%

Shares of NASDAQ:NBBK opened at $22.43 on Wednesday. NB Bancorp, Inc. has a 52-week low of $16.83 and a 52-week high of $23.47. The stock has a market cap of $982.88 million and a price-to-earnings ratio of 14.85. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $21.77 and a 200-day moving average price of $21.21.

NB Bancorp (NASDAQ:NBBK) last issued its earnings results on Wednesday, July 22nd. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. NB Bancorp had a return on equity of 9.13% and a net margin of 14.27%. Equities analysts predict that NB Bancorp, Inc. will post 2.13 EPS for the current year.

NB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were paid a $0.07 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. NB Bancorp’s dividend payout ratio is presently 18.54%.

About NB Bancorp

NB Bancorp, Inc (NASDAQ: NBBK) is the bank holding company for NB Bank, N.A., a full-service community bank headquartered in Newburyport, Massachusetts. Through a network of branches across Northeast Massachusetts and southern New Hampshire, the company offers deposit and lending services tailored to individuals and small- to medium-sized businesses.

The company’s core product lineup includes checking and savings accounts, money market deposits and certificates of deposit, along with residential mortgage loans, home equity lines of credit and commercial lending solutions.