NB Bancorp, Inc. (NASDAQ:NBBK) Short Interest Update

NB Bancorp, Inc. (NASDAQ:NBBK) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 1,410,000 shares, a decrease of 18.0% from the December 31st total of 1,720,000 shares. Approximately 3.7% of the shares of the stock are sold short. Based on an average daily volume of 164,900 shares, the short-interest ratio is presently 8.6 days.

NB Bancorp Stock Up 0.6 %

Shares of NBBK traded up $0.12 during mid-day trading on Thursday, reaching $19.20. The company’s stock had a trading volume of 150,201 shares, compared to its average volume of 272,974. The company has a market cap of $820.07 million and a price-to-earnings ratio of 17.94. The business has a fifty day moving average of $18.89 and a 200 day moving average of $18.57. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.16. NB Bancorp has a 1 year low of $13.26 and a 1 year high of $21.05.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. NB Bancorp had a return on equity of 6.04% and a net margin of 13.86%. As a group, analysts forecast that NB Bancorp will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their target price on NB Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st.

Insiders Place Their Bets

In other NB Bancorp news, Director Hope Pascucci bought 40,000 shares of NB Bancorp stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average cost of $18.53 per share, for a total transaction of $741,200.00. Following the completion of the acquisition, the director now owns 40,075 shares of the company’s stock, valued at approximately $742,589.75. This represents a 53,333.33 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Resources Management Corp CT ADV purchased a new stake in NB Bancorp in the 3rd quarter worth approximately $28,000. Quarry LP acquired a new position in shares of NB Bancorp in the third quarter worth $33,000. Charles Schwab Investment Management Inc. raised its holdings in shares of NB Bancorp by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 315,298 shares of the company’s stock worth $5,852,000 after acquiring an additional 3,611 shares in the last quarter. Great Oak Capital Partners LLC boosted its position in NB Bancorp by 2.6% during the third quarter. Great Oak Capital Partners LLC now owns 194,686 shares of the company’s stock valued at $3,495,000 after purchasing an additional 5,000 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in NB Bancorp by 48.5% in the third quarter. SG Americas Securities LLC now owns 26,291 shares of the company’s stock valued at $488,000 after purchasing an additional 8,589 shares in the last quarter.

About NB Bancorp

NB Bancorp, Inc focuses on operating as a bank holding company for Needham Bank that provides various banking products and services in Greater Boston metropolitan area and surrounding communities in Massachusetts, eastern Connecticut, southern New Hampshire, and Rhode Island. The company offers various deposits, including certificate of deposit, individual retirement, money market, savings, NOW, demand deposit, and interest-bearing and noninterest-bearing checking accounts; and commercial real estate and multifamily, one- to four-family residential real estate, construction and land development, commercial and industrial, and consumer loans, as well as home equity loans and lines of credit.