NB Bancorp, Inc. $NBBK Stake Increased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC increased its stake in NB Bancorp, Inc. (NASDAQ:NBBK) by 1.7% in the second quarter, Holdings Channel reports. The institutional investor owned 50,826 shares of the company’s stock after acquiring an additional 849 shares during the quarter. SummerHaven Investment Management LLC’s holdings in NB Bancorp were worth $908,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP bought a new stake in shares of NB Bancorp in the first quarter worth $26,000. GAMMA Investing LLC increased its stake in shares of NB Bancorp by 1,720.1% in the first quarter. GAMMA Investing LLC now owns 4,987 shares of the company’s stock worth $90,000 after buying an additional 4,713 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of NB Bancorp in the second quarter worth $193,000. ProShare Advisors LLC bought a new stake in shares of NB Bancorp in the fourth quarter worth $198,000. Finally, State of Wyoming increased its stake in shares of NB Bancorp by 40.9% in the first quarter. State of Wyoming now owns 11,782 shares of the company’s stock worth $213,000 after buying an additional 3,421 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NBBK. Zacks Research lowered shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Piper Sandler boosted their target price on shares of NB Bancorp from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.00.

NB Bancorp Stock Up 0.3%

NB Bancorp stock opened at $18.13 on Monday. The company has a 50-day simple moving average of $18.29 and a 200-day simple moving average of $17.69. The firm has a market capitalization of $722.12 million, a P/E ratio of 13.63 and a beta of 0.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10. NB Bancorp, Inc. has a one year low of $15.09 and a one year high of $21.05.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $51.19 million during the quarter. NB Bancorp had a net margin of 15.86% and a return on equity of 7.37%. As a group, equities analysts expect that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

NB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. NB Bancorp’s dividend payout ratio is currently 21.05%.

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.