Legato Capital Management LLC Buys Shares of 171,361 NB Bancorp, Inc. $NBBK

Legato Capital Management LLC acquired a new position in shares of NB Bancorp, Inc. (NASDAQ:NBBK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 171,361 shares of the company’s stock, valued at approximately $3,396,000.

A number of other hedge funds also recently made changes to their positions in the stock. AFG Fiduciary Services Limited Partnership raised its position in shares of NB Bancorp by 9.7% during the fourth quarter. AFG Fiduciary Services Limited Partnership now owns 10,970 shares of the company’s stock worth $214,000 after acquiring an additional 970 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NB Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company’s stock worth $418,000 after acquiring an additional 975 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of NB Bancorp during the third quarter worth about $28,000. Legal & General Group Plc raised its position in shares of NB Bancorp by 3.7% during the second quarter. Legal & General Group Plc now owns 62,014 shares of the company’s stock worth $1,108,000 after acquiring an additional 2,237 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its position in shares of NB Bancorp by 8.3% during the second quarter. Rafferty Asset Management LLC now owns 35,629 shares of the company’s stock worth $636,000 after acquiring an additional 2,720 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Zacks Research downgraded NB Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Weiss Ratings restated a “hold (c)” rating on shares of NB Bancorp in a research report on Thursday, April 2nd. Finally, Piper Sandler lowered their price objective on NB Bancorp from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.00.

NB Bancorp Trading Down 0.5%

Shares of NBBK stock opened at $19.78 on Friday. The company has a market cap of $884.36 million, a P/E ratio of 14.44 and a beta of 0.06. The stock has a 50 day simple moving average of $20.78 and a two-hundred day simple moving average of $20.59. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.07. NB Bancorp, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $22.86.

NB Bancorp (NASDAQ:NBBK) last issued its earnings results on Wednesday, April 22nd. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.16). NB Bancorp had a return on equity of 8.57% and a net margin of 13.81%.The business had revenue of $69.38 million during the quarter, compared to the consensus estimate of $70.83 million. Research analysts forecast that NB Bancorp, Inc. will post 2.02 earnings per share for the current year.

NB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, May 6th. NB Bancorp’s dividend payout ratio (DPR) is 20.44%.

Insider Buying and Selling

In other news, CEO Joseph P. Campanelli acquired 3,000 shares of NB Bancorp stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $19.18 per share, with a total value of $57,540.00. Following the completion of the purchase, the chief executive officer owned 377,790 shares of the company’s stock, valued at approximately $7,246,012.20. The trade was a 0.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hope Pascucci acquired 20,000 shares of NB Bancorp stock in a transaction on Friday, April 24th. The stock was purchased at an average cost of $19.46 per share, with a total value of $389,200.00. Following the purchase, the director directly owned 142,402 shares of the company’s stock, valued at approximately $2,771,142.92. This trade represents a 16.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 34,000 shares of company stock valued at $670,035 in the last three months. Insiders own 5.10% of the company’s stock.

NB Bancorp Company Profile

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.