SummerHaven Investment Management LLC Buys 49,226 Shares of NB Bancorp, Inc. $NBBK

SummerHaven Investment Management LLC bought a new stake in shares of NB Bancorp, Inc. (NASDAQ:NBBK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 49,226 shares of the company’s stock, valued at approximately $1,089,000.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its stake in NB Bancorp by 13.8% in the 2nd quarter. State Street Corp now owns 1,471,766 shares of the company’s stock worth $31,098,000 after buying an additional 178,228 shares during the period. Sequoia Financial Advisors LLC bought a new stake in NB Bancorp during the 2nd quarter valued at about $224,000. Corient Private Wealth LP bought a new stake in NB Bancorp during the 2nd quarter valued at about $221,000. Empowered Funds LLC boosted its position in NB Bancorp by 7.7% in the 2nd quarter. Empowered Funds LLC now owns 181,399 shares of the company’s stock valued at $3,833,000 after buying an additional 13,005 shares during the period. Finally, Raffles Associates LP boosted its position in NB Bancorp by 114.3% in the 2nd quarter. Raffles Associates LP now owns 31,874 shares of the company’s stock valued at $673,000 after buying an additional 17,000 shares during the period.

Insider Transactions at NB Bancorp

In other NB Bancorp news, CEO Joseph Campanelli bought 2,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were acquired at an average price of $21.75 per share, with a total value of $43,500.00. Following the transaction, the chief executive officer owned 379,790 shares of the company’s stock, valued at approximately $8,260,432.50. This trade represents a 0.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NBBK has been the topic of a number of research analyst reports. Piper Sandler upped their target price on shares of NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of NB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. Keefe, Bruyette & Woods lifted their price target on shares of NB Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Wall Street Zen lowered NB Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Zacks Research lowered NB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

NB Bancorp Price Performance

NBBK opened at $21.86 on Friday. NB Bancorp, Inc. has a 12-month low of $17.10 and a 12-month high of $23.47. 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 business’s fifty day simple moving average is $22.54 and its 200-day simple moving average is $21.52. The company has a market capitalization of $957.86 million and a price-to-earnings ratio of 13.17.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings results on Thursday, October 15th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. The firm had revenue of $76.55 million for the quarter, compared to analyst estimates of $77.30 million. NB Bancorp had a return on equity of 9.75% and a net margin of 14.86%. On average, equities research analysts anticipate that NB Bancorp, Inc. will post 2.13 earnings per share for the current fiscal year.

NB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Thursday, October 29th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, October 29th. NB Bancorp’s dividend payout ratio is presently 16.87%.

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 and financial services to individuals, families, businesses, nonprofit organizations and municipalities.

Needham Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, construction financing, consumer loans, cash-management services and other treasury-management solutions.