OP Asset Management Ltd Invests $1.23 Million in NB Bancorp, Inc. $NBBK

OP Asset Management Ltd acquired a new position in shares of NB Bancorp, Inc. (NASDAQ:NBBK) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 58,392 shares of the company’s stock, valued at approximately $1,230,000.

Several other large investors have also bought and sold shares of NBBK. EverSource Wealth Advisors LLC grew its position in NB Bancorp by 75.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock valued at $25,000 after acquiring an additional 553 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of NB Bancorp in the fourth quarter worth about $46,000. SHP Wealth Management acquired a new stake in shares of NB Bancorp in the 4th quarter valued at approximately $68,000. Larson Financial Group LLC boosted its stake in shares of NB Bancorp by 577.1% in the 4th quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock valued at $72,000 after purchasing an additional 3,093 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of NB Bancorp by 64,733.3% during the 4th quarter. Allworth Financial LP now owns 5,835 shares of the company’s stock valued at $116,000 after purchasing an additional 5,826 shares during the last quarter.

NB Bancorp Stock Performance

NASDAQ:NBBK opened at $21.19 on Tuesday. The stock’s 50-day moving average is $20.23 and its 200-day moving average is $20.80. NB Bancorp, Inc. has a 1-year low of $16.76 and a 1-year high of $22.86. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The stock has a market cap of $947.40 million, a P/E ratio of 15.47 and a beta of 0.06.

NB Bancorp (NASDAQ:NBBK) last posted 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). NB Bancorp had a return on equity of 8.57% and a net margin of 13.81%.The business had revenue of $69.38 million for the quarter, compared to analyst estimates of $70.83 million. Equities research analysts anticipate that NB Bancorp, Inc. will post 2.02 earnings per share for the current year.

NB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. NB Bancorp’s payout ratio is currently 20.44%.

Wall Street Analyst Weigh In

NBBK has been the subject of a number of research analyst reports. Zacks Research upgraded shares of NB Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NB Bancorp in a research note on Thursday, April 2nd. Finally, Piper Sandler lowered their price target on shares of NB Bancorp from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, NB Bancorp presently has a consensus rating of “Hold” and an average price target of $24.00.

Insider Buying and Selling at NB Bancorp

In related news, Director Hope Pascucci acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was acquired at an average cost of $19.46 per share, for a total transaction of $389,200.00. Following the completion of the acquisition, the director directly owned 142,402 shares of the company’s stock, valued at approximately $2,771,142.92. This trade represents a 16.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph P. Campanelli acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $19.18 per share, with a total value of $57,540.00. Following the completion of the acquisition, the chief executive officer directly owned 377,790 shares of the company’s stock, valued at $7,246,012.20. This trade represents a 0.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 25,500 shares of company stock worth $495,365. 5.10% of the stock is currently owned by insiders.

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.