UBS Group AG Has $2.90 Million Position in NB Bancorp, Inc. $NBBK

UBS Group AG reduced its holdings in NB Bancorp, Inc. (NASDAQ:NBBK) by 61.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 146,094 shares of the company’s stock after selling 232,259 shares during the quarter. UBS Group AG’s holdings in NB Bancorp were worth $2,896,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in NB Bancorp in the third quarter valued at approximately $28,000. Russell Investments Group Ltd. raised its holdings in NB Bancorp by 1,640.6% in the third quarter. Russell Investments Group Ltd. now owns 6,945 shares of the company’s stock worth $123,000 after purchasing an additional 6,546 shares during the period. Tower Research Capital LLC TRC raised its holdings in NB Bancorp by 464.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,022 shares of the company’s stock worth $143,000 after purchasing an additional 6,602 shares during the period. Quantbot Technologies LP acquired a new stake in NB Bancorp in the third quarter worth $156,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in NB Bancorp by 59.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,676 shares of the company’s stock worth $171,000 after purchasing an additional 3,600 shares during the period.

Insiders Place Their Bets

In related news, CEO Joseph P. Campanelli acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $19.18 per share, for a total transaction of $57,540.00. Following the completion of the acquisition, the chief executive officer directly owned 377,790 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, Director Hope Pascucci acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were bought at an average price of $19.46 per share, for a total transaction of $389,200.00. Following the completion of the acquisition, the director owned 142,402 shares of the company’s stock, valued at $2,771,142.92. This trade represents a 16.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 34,000 shares of company stock worth $670,035. 5.10% of the stock is currently owned by company insiders.

NB Bancorp Stock Performance

NBBK opened at $19.78 on Tuesday. The firm’s fifty day moving average is $20.75 and its two-hundred day moving average is $20.62. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.07. The firm has a market cap of $884.36 million, a PE ratio of 14.44 and a beta of 0.06. NB Bancorp, Inc. has a twelve month low of $15.44 and a twelve month high of $22.86.

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

NB Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on NBBK shares. Weiss Ratings reiterated a “hold (c)” rating on shares of NB Bancorp in a report on Thursday, April 2nd. Zacks Research lowered shares of NB Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Finally, Piper Sandler cut their target price on shares of NB Bancorp from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NB Bancorp has an average rating of “Hold” and a consensus target price of $24.00.

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.