Vanguard Group Inc. Purchases 350,899 Shares of NB Bancorp, Inc. $NBBK

Vanguard Group Inc. boosted its position in shares of NB Bancorp, Inc. (NASDAQ:NBBK) by 18.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,301,034 shares of the company’s stock after purchasing an additional 350,899 shares during the period. Vanguard Group Inc. owned about 0.06% of NB Bancorp worth $45,606,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC grew its holdings in NB Bancorp by 27.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock valued at $12,266,000 after purchasing an additional 148,472 shares during the last quarter. UBS Group AG grew its holdings in NB Bancorp by 264.4% during the 3rd quarter. UBS Group AG now owns 378,353 shares of the company’s stock valued at $6,678,000 after purchasing an additional 274,511 shares during the last quarter. Marshall Wace LLP grew its holdings in NB Bancorp by 165.9% during the 2nd quarter. Marshall Wace LLP now owns 315,460 shares of the company’s stock valued at $5,634,000 after purchasing an additional 196,837 shares during the last quarter. Millennium Management LLC grew its holdings in NB Bancorp by 13.1% during the 1st quarter. Millennium Management LLC now owns 253,543 shares of the company’s stock valued at $4,582,000 after purchasing an additional 29,373 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in NB Bancorp by 45.8% during the 3rd quarter. Two Sigma Investments LP now owns 205,869 shares of the company’s stock valued at $3,634,000 after purchasing an additional 64,635 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler cut their price target on shares of NB Bancorp from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Zacks Research downgraded shares of NB Bancorp from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NB Bancorp in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.00.

Insider Activity at NB Bancorp

In other news, Director Hope Pascucci bought 20,000 shares of the stock in a transaction on Friday, April 24th. The stock was bought at an average cost of $19.46 per share, for a total transaction of $389,200.00. Following the completion of the purchase, the director directly owned 142,402 shares in the company, valued at approximately $2,771,142.92. The trade was a 16.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph P. Campanelli bought 2,500 shares of the stock in a transaction on Friday, April 24th. The stock was purchased at an average price of $19.45 per share, with a total value of $48,625.00. Following the completion of the purchase, the chief executive officer owned 374,790 shares of the company’s stock, valued at $7,289,665.50. This represents a 0.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 31,000 shares of company stock valued at $612,495. 5.10% of the stock is owned by insiders.

NB Bancorp Price Performance

Shares of NBBK opened at $19.17 on Friday. The company has a market cap of $857.09 million, a price-to-earnings ratio of 13.99 and a beta of 0.06. NB Bancorp, Inc. has a twelve month low of $15.44 and a twelve month high of $22.86. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $20.91 and a two-hundred day moving average of $20.53.

NB Bancorp (NASDAQ:NBBK) last announced its earnings results on Wednesday, April 22nd. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.16). The firm had revenue of $69.38 million during the quarter, compared to analyst estimates of $70.83 million. NB Bancorp had a net margin of 13.81% and a return on equity of 8.57%. As a group, analysts predict that NB Bancorp, Inc. will post 2.02 earnings per share for the current fiscal year.

NB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, May 6th. NB Bancorp’s dividend payout ratio (DPR) is 20.44%.

NB Bancorp 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.