Short Interest in NB Bancorp, Inc. (NASDAQ:NBBK) Drops By 18.9%

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

Insider Activity at NB Bancorp

In related news, Director Hope Pascucci bought 4,688 shares of the stock in a transaction on Tuesday, October 28th. The shares were bought at an average cost of $18.07 per share, for a total transaction of $84,712.16. Following the purchase, the director owned 120,000 shares of the company’s stock, valued at $2,168,400. This trade represents a 4.07% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On NB Bancorp

A number of large investors have recently modified their holdings of the business. AQR Capital Management LLC purchased a new position in NB Bancorp in the first quarter valued at $253,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NB Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company’s stock valued at $418,000 after purchasing an additional 975 shares during the period. Millennium Management LLC increased its holdings in shares of NB Bancorp by 13.1% in the first 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 period. Jane Street Group LLC boosted its holdings in NB Bancorp by 54.3% in the 1st quarter. Jane Street Group LLC now owns 54,613 shares of the company’s stock valued at $987,000 after purchasing an additional 19,213 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in NB Bancorp in the second quarter valued at $193,000.

NB Bancorp Price Performance

NASDAQ NBBK traded down $0.14 on Tuesday, reaching $19.60. 156,739 shares of the company’s stock traded hands, compared to its average volume of 213,699. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.07 and a quick ratio of 1.07. NB Bancorp has a 12 month low of $15.09 and a 12 month high of $21.58. The stock has a market cap of $780.67 million, a PE ratio of 12.65 and a beta of 0.32. The stock has a 50-day simple moving average of $20.00 and a 200 day simple moving average of $18.82.

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

NB Bancorp Dividend Announcement

The company 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 dividend yield of 1.4%. The ex-dividend date was Wednesday, November 5th. NB Bancorp’s payout ratio is presently 18.06%.

Analyst Ratings Changes

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

About NB Bancorp

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.