Raffles Associates LP Invests $673,000 in NB Bancorp, Inc. $NBBK

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

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in NB Bancorp by 18.0% in the fourth quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock worth $45,606,000 after acquiring an additional 350,899 shares during the period. Legato Capital Management LLC purchased a new position in shares of NB Bancorp during the 4th quarter worth $3,396,000. Dimensional Fund Advisors LP grew its position in shares of NB Bancorp by 81.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 522,384 shares of the company’s stock valued at $11,006,000 after acquiring an additional 234,356 shares during the period. OP Asset Management Ltd bought a new position in NB Bancorp in the 1st quarter worth $1,230,000. Finally, Tieton Capital Management LLC bought a new position in NB Bancorp in the 4th quarter worth $10,404,000.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NBBK shares. Piper Sandler lifted their target price on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods raised their price objective on NB Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Weiss Ratings raised NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Wall Street Zen cut NB Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Zacks Research upgraded NB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $25.50.

NB Bancorp Stock Up 0.3%

Shares of NBBK stock opened at $22.36 on Friday. The company has a market capitalization of $979.82 million and a price-to-earnings ratio of 14.81. NB Bancorp, Inc. has a one year low of $16.83 and a one year high of $23.47. The company’s fifty day moving average price is $21.86 and its 200-day moving average price is $21.21. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.06 and a quick ratio of 1.05.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 earnings per share for the quarter, topping 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%. Sell-side analysts expect that NB Bancorp, Inc. will post 2.13 EPS for the current fiscal year.

NB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. NB Bancorp’s dividend payout ratio (DPR) is 18.54%.

Insider Activity at NB Bancorp

In related news, CEO Joseph P. Campanelli purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average price of $21.75 per share, for a total transaction of $43,500.00. Following the completion of the transaction, the chief executive officer owned 379,790 shares in the company, valued at approximately $8,260,432.50. The trade was a 0.53% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.10% of the company’s stock.

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.