Great Oak Capital Partners LLC Has $1.17 Million Stake in NB Bancorp, Inc. $NBBK

Great Oak Capital Partners LLC lowered its position in NB Bancorp, Inc. (NASDAQ:NBBK) by 66.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,654 shares of the company’s stock after selling 124,032 shares during the period. NB Bancorp accounts for 0.3% of Great Oak Capital Partners LLC’s portfolio, making the stock its 19th largest holding. Great Oak Capital Partners LLC owned 0.15% of NB Bancorp worth $1,170,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in NB Bancorp in the first quarter worth approximately $26,000. GAMMA Investing LLC lifted its stake in shares of NB Bancorp by 1,720.1% in the 1st quarter. GAMMA Investing LLC now owns 4,987 shares of the company’s stock valued at $90,000 after purchasing an additional 4,713 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in NB Bancorp in the second quarter worth $193,000. ProShare Advisors LLC bought a new stake in NB Bancorp in the fourth quarter worth $198,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in NB Bancorp during the fourth quarter worth $212,000.

NB Bancorp Stock Down 1.1%

NBBK stock opened at $18.07 on Thursday. The stock has a market capitalization of $719.66 million, a price-to-earnings ratio of 13.59 and a beta of 0.46. The company has a 50-day moving average of $18.30 and a two-hundred day moving average of $17.69. NB Bancorp, Inc. has a 52-week low of $15.09 and a 52-week high of $21.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10.

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

NB Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. NB Bancorp’s payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

NBBK has been the subject of a number of analyst reports. Zacks Research cut NB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday. Piper Sandler raised their price objective on NB Bancorp from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.00.

About NB Bancorp

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.