Northeast Investment Management Grows Position in NB Bancorp, Inc. $NBBK

Northeast Investment Management boosted its stake in NB Bancorp, Inc. (NASDAQ:NBBK) by 33.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,000 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. Northeast Investment Management’s holdings in NB Bancorp were worth $286,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NBBK. Nuveen LLC purchased a new stake in NB Bancorp during the first quarter worth approximately $2,390,000. Wellington Management Group LLP grew its stake in NB Bancorp by 7.8% during the first quarter. Wellington Management Group LLP now owns 1,610,589 shares of the company’s stock worth $29,103,000 after buying an additional 116,988 shares during the period. International Assets Investment Management LLC purchased a new stake in NB Bancorp during the first quarter worth approximately $987,000. Piper Sandler & CO. purchased a new stake in NB Bancorp during the first quarter worth approximately $716,000. Finally, Panagora Asset Management Inc. grew its stake in NB Bancorp by 24.9% during the first quarter. Panagora Asset Management Inc. now owns 181,282 shares of the company’s stock worth $3,276,000 after buying an additional 36,099 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Zacks Research downgraded shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Piper Sandler boosted their price objective on shares of NB Bancorp from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Weiss Ratings upgraded shares of NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.00.

NB Bancorp Price Performance

Shares of NBBK stock opened at $17.32 on Monday. The company has a market capitalization of $689.86 million, a PE ratio of 13.02 and a beta of 0.37. The firm has a fifty day simple moving average of $18.22 and a 200-day simple moving average of $17.59. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. NB Bancorp, Inc. has a twelve month low of $15.09 and a twelve month high of $21.05.

NB Bancorp (NASDAQ:NBBK) last announced its earnings results on Wednesday, July 23rd. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $51.19 million during the quarter. NB Bancorp had a net margin of 15.86% and a return on equity of 7.37%. Equities research analysts anticipate that NB Bancorp, Inc. will post 1.39 earnings per share for the current fiscal year.

NB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.28 annualized dividend and a yield of 1.6%. NB Bancorp’s dividend payout ratio is currently 21.05%.

NB Bancorp Company Profile

NB Bancorp, Inc focuses on operating as a bank holding company for Needham Bank that provides various banking products and services in Greater Boston metropolitan area and surrounding communities in Massachusetts, eastern Connecticut, southern New Hampshire, and Rhode Island. The company offers various deposits, including certificate of deposit, individual retirement, money market, savings, NOW, demand deposit, and interest-bearing and noninterest-bearing checking accounts; and commercial real estate and multifamily, one- to four-family residential real estate, construction and land development, commercial and industrial, and consumer loans, as well as home equity loans and lines of credit.