Sei Investments Co. raised its position in shares of NB Bancorp, Inc. (NASDAQ:NBBK – Free Report) by 110.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 302,181 shares of the company’s stock after purchasing an additional 158,397 shares during the quarter. Sei Investments Co. owned 0.68% of NB Bancorp worth $6,367,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of NB Bancorp by 75.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock valued at $25,000 after buying an additional 553 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of NB Bancorp in the fourth quarter valued at about $46,000. SHP Wealth Management bought a new position in shares of NB Bancorp in the fourth quarter worth about $68,000. Larson Financial Group LLC grew its position in shares of NB Bancorp by 577.1% during the fourth quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock worth $72,000 after purchasing an additional 3,093 shares in the last quarter. Finally, Allworth Financial LP raised its stake in NB Bancorp by 64,733.3% during the 4th quarter. Allworth Financial LP now owns 5,835 shares of the company’s stock valued at $116,000 after purchasing an additional 5,826 shares during the period.
Insider Buying and Selling at NB Bancorp
In other NB Bancorp news, CEO Joseph P. Campanelli bought 3,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $19.18 per share, for a total transaction of $57,540.00. Following the transaction, the chief executive officer owned 377,790 shares of the company’s stock, valued at $7,246,012.20. This represents a 0.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.10% of the stock is currently owned by company insiders.
NB Bancorp Stock Up 0.5%
NB Bancorp (NASDAQ:NBBK – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.07. The company had revenue of $74.70 million for the quarter, compared to analysts’ expectations of $72.74 million. NB Bancorp had a net margin of 14.27% and a return on equity of 9.21%. As a group, equities analysts predict that NB Bancorp, Inc. will post 2.13 EPS for the current fiscal year.
NB Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. NB Bancorp’s payout ratio is 18.54%.
Analyst Ratings Changes
NBBK has been the subject of several recent analyst reports. Weiss Ratings upgraded NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Zacks Research raised shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Piper Sandler lifted their price target on shares of NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods increased their price objective on shares of NB Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen raised NB Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $25.50.
Get Our Latest Research Report on NBBK
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.
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