Flagship Wealth Advisors LLC bought a new stake in NB Bancorp, Inc. (NASDAQ:NBBK – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,350 shares of the company’s stock, valued at approximately $760,000. Flagship Wealth Advisors LLC owned approximately 0.08% of NB Bancorp as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of NB Bancorp by 1.7% in the third quarter. International Assets Investment Management LLC now owns 133,207 shares of the company’s stock worth $2,967,000 after acquiring an additional 2,194 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in NB Bancorp by 3.6% during the third quarter. Commonwealth Equity Services LLC now owns 19,987 shares of the company’s stock valued at $442,000 after purchasing an additional 702 shares during the last quarter. Sterling Capital Management LLC grew its stake in NB Bancorp by 1,604.8% in the third quarter. Sterling Capital Management LLC now owns 13,979 shares of the company’s stock valued at $309,000 after purchasing an additional 13,159 shares in the last quarter. SummerHaven Investment Management LLC purchased a new position in NB Bancorp in the third quarter valued at about $1,089,000. Finally, State Street Corp grew its stake in NB Bancorp by 13.8% in the second quarter. State Street Corp now owns 1,471,766 shares of the company’s stock valued at $31,098,000 after purchasing an additional 178,228 shares in the last quarter.
NB Bancorp Stock Up 0.3%
NB Bancorp stock traded up $0.07 during mid-day trading on Friday, hitting $22.09. 253,058 shares of the company’s stock were exchanged, compared to its average volume of 275,015. NB Bancorp, Inc. has a 1-year low of $17.91 and a 1-year high of $23.47. The stock has a 50 day moving average of $22.51 and a two-hundred day moving average of $21.55. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The stock has a market cap of $967.98 million, a P/E ratio of 13.31 and a beta of 0.01.
NB Bancorp (NASDAQ:NBBK – Get Free Report) last announced its quarterly earnings results on Thursday, October 15th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $76.55 million during the quarter, compared to analysts’ expectations of $77.30 million. NB Bancorp had a return on equity of 9.75% and a net margin of 14.86%. As a group, analysts anticipate that NB Bancorp, Inc. will post 2.12 EPS for the current fiscal year.
NB Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Thursday, October 29th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, October 29th. NB Bancorp’s payout ratio is 16.87%.
Insiders Place Their Bets
In related news, CEO Joseph Campanelli bought 2,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $21.75 per share, with a total value of $43,500.00. Following the completion of the transaction, the chief executive officer directly owned 379,790 shares of the company’s stock, valued at $8,260,432.50. This trade represents a 0.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.10% of the company’s stock.
Analyst Ratings Changes
NBBK has been the subject of a number of recent research reports. Zacks Research downgraded NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Keefe, Bruyette & Woods lowered their price target on NB Bancorp from $25.00 to $24.00 and set a “market perform” rating for the company in a research note on Tuesday, October 27th. Weiss Ratings upgraded NB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Piper Sandler raised their price objective on shares of NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, New Street Research set a $24.00 price objective on shares of NB Bancorp in a research report on Tuesday, October 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.67.
Check Out Our Latest Stock Analysis on NB Bancorp
NB Bancorp Company Profile
NB Bancorp, Inc is the bank holding company for Needham Bank, a community-oriented financial institution headquartered in Needham, Massachusetts. Through Needham Bank, the company provides banking services to individuals, families, businesses, nonprofit organizations and municipalities, primarily in the Greater Boston and eastern Massachusetts markets.
Its products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, commercial real estate loans, commercial and industrial lending, construction loans and consumer credit.
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