NB Bancorp, Inc. (NASDAQ:NBBK) Sees Large Decline in Short Interest

NB Bancorp, Inc. (NASDAQ:NBBK) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 1,396,148 shares, a decrease of 18.9% from the December 15th total of 1,721,516 shares. Based on an average daily volume of 206,468 shares, the short-interest ratio is currently 6.8 days. Currently, 3.6% of the shares of the stock are sold short. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily volume of 206,468 shares, the short-interest ratio is currently 6.8 days.

Insiders Place Their Bets

In related news, Director Hope Pascucci purchased 4,688 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were purchased at an average cost of $18.07 per share, with a total value of $84,712.16. Following the purchase, the director owned 120,000 shares of the company’s stock, valued at $2,168,400. This represents a 4.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On NB Bancorp

Several large investors have recently made changes to their positions in the stock. Pertento Partners LLP boosted its position in shares of NB Bancorp by 6.8% during the 2nd quarter. Pertento Partners LLP now owns 2,114,336 shares of the company’s stock worth $37,762,000 after purchasing an additional 135,433 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of NB Bancorp by 27.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock worth $12,266,000 after buying an additional 148,472 shares during the period. UBS Group AG grew its stake in shares of NB Bancorp by 264.4% in the third quarter. UBS Group AG now owns 378,353 shares of the company’s stock valued at $6,678,000 after buying an additional 274,511 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of NB Bancorp by 165.9% in the 2nd quarter. Marshall Wace LLP now owns 315,460 shares of the company’s stock valued at $5,634,000 after buying an additional 196,837 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of NB Bancorp by 13.1% in the 1st quarter. Millennium Management LLC now owns 253,543 shares of the company’s stock valued at $4,582,000 after buying an additional 29,373 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NBBK. Weiss Ratings raised NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upgraded NB Bancorp to a “hold” rating in a report on Sunday, November 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of NB Bancorp in a report on Thursday, November 20th. Finally, Zacks Research upgraded shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, NB Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

NB Bancorp Trading Down 2.3%

NB Bancorp stock traded down $0.47 during midday trading on Monday, hitting $19.74. 577,575 shares of the stock were exchanged, compared to its average volume of 177,331. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $19.98 and its 200 day simple moving average is $18.81. NB Bancorp has a fifty-two week low of $15.09 and a fifty-two week high of $21.58. The stock has a market capitalization of $786.24 million, a price-to-earnings ratio of 12.74 and a beta of 0.32.

NB Bancorp (NASDAQ:NBBK) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. NB Bancorp had a net margin of 17.59% and a return on equity of 7.79%. The business had revenue of $51.73 million during the quarter, compared to analysts’ expectations of $52.40 million. On average, equities analysts anticipate that NB Bancorp will post 1.39 EPS for the current year.

NB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 5th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date was Wednesday, November 5th. NB Bancorp’s payout ratio is 18.06%.

NB Bancorp Company Profile

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.