Raffles Associates LP Invests $673,000 in NB Bancorp, Inc. $NBBK

Raffles Associates LP bought a new stake in shares of NB Bancorp, Inc. (NASDAQ:NBBK) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,874 shares of the company’s stock, valued at approximately $673,000. Raffles Associates LP owned approximately 0.07% of NB Bancorp at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NBBK. BlackRock Inc. bought a new stake in NB Bancorp during the second quarter worth approximately $70,396,000. Pertento Partners LLP lifted its stake in shares of NB Bancorp by 10.9% in the 4th quarter. Pertento Partners LLP now owns 2,343,776 shares of the company’s stock valued at $46,454,000 after purchasing an additional 229,440 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of NB Bancorp by 18.0% in the 4th quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock worth $45,606,000 after purchasing an additional 350,899 shares during the period. Geode Capital Management LLC boosted its holdings in shares of NB Bancorp by 10.3% in the 4th quarter. Geode Capital Management LLC now owns 966,662 shares of the company’s stock worth $19,162,000 after purchasing an additional 90,014 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of NB Bancorp by 27.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock valued at $12,266,000 after purchasing an additional 148,472 shares during the last quarter.

Insider Transactions at NB Bancorp

In other news, CEO Joseph P. Campanelli acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average price 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 in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NBBK shares. Piper Sandler increased their price target on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Wall Street Zen lowered shares of NB Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research upgraded shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods increased their target price 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. Finally, Weiss Ratings upgraded shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $25.50.

NB Bancorp Stock Performance

Shares of NB Bancorp stock opened at $22.43 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $21.77 and its two-hundred day moving average is $21.21. NB Bancorp, Inc. has a 52 week low of $16.83 and a 52 week high of $23.47. The company has a market capitalization of $982.88 million and a PE ratio of 14.85.

NB Bancorp (NASDAQ:NBBK) last released its 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. NB Bancorp had a return on equity of 9.13% and a net margin of 14.27%. As a group, analysts expect that NB Bancorp, Inc. will post 2.13 earnings per share for the current year.

NB Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 5th. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. NB Bancorp’s dividend payout ratio (DPR) is presently 18.54%.

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.