Short Interest in NB Bancorp, Inc. (NASDAQ:NBBK) Grows By 24.5%

NB Bancorp, Inc. (NASDAQ:NBBK) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,220,000 shares, an increase of 24.5% from the March 15th total of 980,300 shares. Based on an average daily trading volume, of 256,500 shares, the days-to-cover ratio is currently 4.8 days. Currently, 3.6% of the company’s shares are short sold.

NB Bancorp Trading Down 0.7 %

Shares of NBBK stock opened at $16.30 on Tuesday. The stock has a market capitalization of $682.04 million, a P/E ratio of 15.23 and a beta of 0.50. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $17.98 and its 200 day moving average is $18.62. NB Bancorp has a 12-month low of $13.64 and a 12-month high of $21.05.

NB Bancorp (NASDAQ:NBBK) last announced its earnings results on Wednesday, January 22nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. NB Bancorp had a net margin of 13.86% and a return on equity of 6.04%. Research analysts expect that NB Bancorp will post 1.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Joseph P. Campanelli bought 2,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $17.75 per share, with a total value of $35,500.00. Following the completion of the purchase, the chief executive officer now owns 55,000 shares in the company, valued at approximately $976,250. The trade was a 3.77 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hope Pascucci acquired 40,000 shares of NB Bancorp stock in a transaction on Friday, January 24th. The shares were purchased at an average price of $18.53 per share, with a total value of $741,200.00. Following the completion of the purchase, the director now owns 40,075 shares in the company, valued at $742,589.75. This represents a 53,333.33 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 43,400 shares of company stock worth $803,035. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NB Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of NB Bancorp by 16.5% in the third quarter. State Street Corp now owns 994,380 shares of the company’s stock worth $18,456,000 after purchasing an additional 140,960 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NB Bancorp by 1.9% in the third quarter. Geode Capital Management LLC now owns 885,243 shares of the company’s stock worth $16,433,000 after purchasing an additional 16,270 shares during the last quarter. Northern Trust Corp increased its stake in NB Bancorp by 4.7% in the 4th quarter. Northern Trust Corp now owns 358,539 shares of the company’s stock worth $6,475,000 after acquiring an additional 15,985 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of NB Bancorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 319,436 shares of the company’s stock valued at $5,769,000 after purchasing an additional 4,138 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in NB Bancorp by 23.9% during the fourth quarter. JPMorgan Chase & Co. now owns 247,482 shares of the company’s stock valued at $4,470,000 after purchasing an additional 47,678 shares in the last quarter.

NB Bancorp Company Profile

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.