Nixon Peabody Trust Co. Makes New Investment in NB Bancorp, Inc. $NBBK

Nixon Peabody Trust Co. acquired a new stake in NB Bancorp, Inc. (NASDAQ:NBBK) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 48,516 shares of the company’s stock, valued at approximately $962,000.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 350,899 shares during the period. Legato Capital Management LLC bought a new stake in NB Bancorp during the fourth quarter worth about $3,396,000. Four Tree Island Advisory LLC acquired a new stake in NB Bancorp during the fourth quarter worth about $425,000. Round Rock Advisors LLC grew its stake in NB Bancorp by 52.8% during the fourth quarter. Round Rock Advisors LLC now owns 51,906 shares of the company’s stock worth $1,029,000 after buying an additional 17,936 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in NB Bancorp by 19.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 119,682 shares of the company’s stock valued at $2,112,000 after buying an additional 19,616 shares during the period.

NB Bancorp Stock Performance

NASDAQ:NBBK opened at $19.78 on Friday. 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 stock’s 50-day simple moving average is $20.78 and its 200 day simple moving average is $20.59. The firm has a market capitalization of $884.36 million, a PE ratio of 14.44 and a beta of 0.06.

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

NB Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Wednesday, May 6th. NB Bancorp’s dividend payout ratio is currently 20.44%.

Insider Buying and Selling

In related news, Director Hope Pascucci acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was acquired at an average price of $19.46 per share, with a total value of $389,200.00. Following the purchase, the director directly owned 142,402 shares in the company, valued at approximately $2,771,142.92. This trade represents a 16.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph P. Campanelli bought 5,000 shares of the business’s stock in a transaction on Friday, March 6th. The stock was bought at an average price of $20.77 per share, for a total transaction of $103,850.00. Following the transaction, the chief executive officer directly owned 47,000 shares of the company’s stock, valued at approximately $976,190. This represents a 11.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 34,000 shares of company stock valued at $670,035. 5.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.