NB Bancorp, Inc. $NBBK Stock Position Boosted by International Assets Investment Management LLC

International Assets Investment Management LLC grew its position in shares of NB Bancorp, Inc. (NASDAQ:NBBK) by 184.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 372,910 shares of the company’s stock after acquiring an additional 241,897 shares during the period. International Assets Investment Management LLC’s holdings in NB Bancorp were worth $8,249,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in NB Bancorp by 1,604.8% in the 3rd quarter. Sterling Capital Management LLC now owns 13,979 shares of the company’s stock worth $309,000 after buying an additional 13,159 shares during the last quarter. SummerHaven Investment Management LLC bought a new position in NB Bancorp during the third quarter valued at approximately $1,089,000. State Street Corp grew its position in NB Bancorp by 13.8% during the second quarter. State Street Corp now owns 1,471,766 shares of the company’s stock valued at $31,098,000 after acquiring an additional 178,228 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of NB Bancorp during the second quarter worth approximately $224,000. Finally, Corient Private Wealth LP purchased a new position in shares of NB Bancorp during the second quarter worth approximately $221,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NBBK shares. New Street Research set a $24.00 price objective on shares of NB Bancorp in a report on Tuesday. Keefe, Bruyette & Woods reduced their target price on shares of NB Bancorp from $25.00 to $24.00 and set a “market perform” rating on the stock in a report on Tuesday, October 27th. Wall Street Zen cut shares of NB Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Piper Sandler boosted their price target 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. Finally, 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. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.67.

NB Bancorp Stock Down 1.9%

Shares of NASDAQ NBBK opened at $22.13 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. NB Bancorp, Inc. has a 52 week low of $17.16 and a 52 week high of $23.47. The firm’s fifty day moving average is $22.50 and its 200 day moving average is $21.49. The company has a market cap of $969.74 million and a price-to-earnings ratio of 13.33.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings results on Thursday, October 15th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. The business had revenue of $76.55 million during the quarter, compared to analysts’ expectations of $77.30 million. NB Bancorp had a net margin of 14.86% and a return on equity of 9.75%. On average, equities research analysts expect that NB Bancorp, Inc. will post 2.12 earnings per share for the current year.

NB Bancorp Dividend Announcement

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

Insider Buying and Selling at NB Bancorp

In other NB Bancorp news, CEO Joseph Campanelli bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average cost of $21.75 per share, with a total value of $43,500.00. Following the completion of the purchase, 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 filing with the SEC, which is available at this link. Corporate insiders own 5.10% of the company’s stock.

NB Bancorp 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.