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

NB Bancorp, Inc. (NASDAQ:NBBK) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 1,396,148 shares, a drop of 18.9% from the December 15th total of 1,721,516 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average trading volume of 206,468 shares, the short-interest ratio is currently 6.8 days. Based on an average trading volume of 206,468 shares, the short-interest ratio is currently 6.8 days. Approximately 3.6% of the shares of the company are short sold.

NB Bancorp Stock Performance

NASDAQ:NBBK opened at $19.60 on Wednesday. NB Bancorp has a 12-month low of $15.09 and a 12-month high of $21.58. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $780.67 million, a PE ratio of 12.65 and a beta of 0.32. The firm has a 50-day moving average price of $20.03 and a 200 day moving average price of $18.83.

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

Insider Transactions at NB Bancorp

In related news, Director Hope Pascucci bought 4,688 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were acquired at an average price of $18.07 per share, with a total value of $84,712.16. Following the completion of the transaction, the director owned 120,000 shares of the company’s stock, valued at $2,168,400. The trade was a 4.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Institutional Trading of NB Bancorp

A number of large investors have recently bought and sold shares of the stock. Rockland Trust Co. bought a new position in shares of NB Bancorp during the fourth quarter valued at $317,000. Diversified Trust Co. acquired a new stake in shares of NB Bancorp during the 4th quarter worth about $243,000. AFG Fiduciary Services Limited Partnership increased its position in shares of NB Bancorp by 9.7% during the 4th quarter. AFG Fiduciary Services Limited Partnership now owns 10,970 shares of the company’s stock worth $214,000 after purchasing an additional 970 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in NB Bancorp by 19.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 119,682 shares of the company’s stock valued at $2,112,000 after purchasing an additional 19,616 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in NB Bancorp in the third quarter valued at about $232,000.

Wall Street Analysts Forecast Growth

NBBK has been the topic of several research reports. Zacks Research upgraded shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Piper Sandler restated an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of NB Bancorp in a research note on Thursday, November 20th. Weiss Ratings raised NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised NB Bancorp to a “hold” rating in a report on Sunday, November 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NB Bancorp has a consensus 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.