Raffles Associates LP Acquires Shares of 31,874 NB Bancorp, Inc. $NBBK

Raffles Associates LP bought a new position in NB Bancorp, Inc. (NASDAQ:NBBK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 31,874 shares of the company’s stock, valued at approximately $673,000. Raffles Associates LP owned about 0.07% of NB Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of NB Bancorp by 75.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock valued at $25,000 after buying an additional 553 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in NB Bancorp in the 4th quarter worth approximately $46,000. SHP Wealth Management bought a new position in NB Bancorp in the 4th quarter valued at approximately $68,000. Larson Financial Group LLC lifted its position in NB Bancorp by 577.1% in the 4th quarter. Larson Financial Group LLC now owns 3,629 shares of the company’s stock valued at $72,000 after acquiring an additional 3,093 shares in the last quarter. Finally, Allworth Financial LP lifted its position in NB Bancorp by 64,733.3% in the 4th quarter. Allworth Financial LP now owns 5,835 shares of the company’s stock valued at $116,000 after acquiring an additional 5,826 shares in the last quarter.

Insider Activity

In other news, CEO Joseph P. Campanelli acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average price of $21.75 per share, with a total value of $43,500.00. Following the completion of the acquisition, the chief executive officer directly owned 379,790 shares of the company’s stock, valued at approximately $8,260,432.50. The trade was a 0.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.10% of the stock is currently owned by company insiders.

NB Bancorp Stock Up 0.3%

Shares of NB Bancorp stock opened at $22.36 on Friday. NB Bancorp, Inc. has a twelve month low of $16.83 and a twelve month high of $23.47. 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 company’s 50 day moving average is $21.86 and its 200 day moving average is $21.21. The company has a market cap of $979.82 million and a price-to-earnings ratio of 14.81.

NB Bancorp (NASDAQ:NBBK) last posted its earnings results on Wednesday, July 22nd. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. NB Bancorp had a net margin of 14.27% and a return on equity of 9.13%. Research analysts anticipate that NB Bancorp, Inc. will post 2.13 EPS for the current year.

NB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, August 5th. NB Bancorp’s dividend payout ratio (DPR) is 18.54%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings raised NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Piper Sandler upped 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 downgraded NB Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Zacks Research raised NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on NB Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $25.50.

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.