Nuveen LLC Acquires New Position in NB Bancorp, Inc. $NBBK

Key Points

• Nuveen LLC has purchased 132,258 shares of NB Bancorp, Inc., valued at approximately $2.39 million, representing a 0.32% stake in the company.
• NB Bancorp recently reported $0.40 earnings per share, surpassing analysts' expectations of $0.35, alongside a quarterly revenue of $51.19 million.
• Piper Sandler has raised the target price for NB Bancorp shares from $19.00 to $20.00 and currently, the stock holds a consensus rating of "Buy."

Nuveen LLC acquired a new stake in NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 132,258 shares of the company's stock, valued at approximately $2,390,000. Nuveen LLC owned about 0.32% of NB Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of NB Bancorp by 143.6% during the fourth quarter. Millennium Management LLC now owns 224,170 shares of the company's stock worth $4,049,000 after purchasing an additional 132,130 shares in the last quarter. Focus Partners Wealth acquired a new stake in NB Bancorp during the 4th quarter worth approximately $1,607,000. International Assets Investment Management LLC purchased a new position in NB Bancorp in the 1st quarter valued at approximately $987,000. Aviance Capital Partners LLC purchased a new position in NB Bancorp in the 1st quarter valued at approximately $646,000. Finally, Ameriprise Financial Inc. raised its stake in shares of NB Bancorp by 79.5% in the fourth quarter. Ameriprise Financial Inc. now owns 79,500 shares of the company's stock valued at $1,436,000 after acquiring an additional 35,200 shares in the last quarter.

NB Bancorp Stock Performance

Shares of NBBK traded down $0.15 during midday trading on Wednesday, reaching $18.76. 63,965 shares of the stock were exchanged, compared to its average volume of 249,382. NB Bancorp, Inc. has a twelve month low of $15.09 and a twelve month high of $21.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $747.26 million, a price-to-earnings ratio of 14.10 and a beta of 0.46. The business's 50-day moving average price is $18.25 and its 200 day moving average price is $17.73.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. NB Bancorp had a return on equity of 7.37% and a net margin of 15.86%.The firm had revenue of $51.19 million for the quarter. On average, sell-side analysts expect that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.

NB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, August 6th. NB Bancorp's payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

Separately, Piper Sandler upped their price target on NB Bancorp from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $20.00.

NB Bancorp Company Profile

NB Bancorp, Inc focuses on operating as a bank holding company for Needham Bank that provides various banking products and services in Greater Boston metropolitan area and surrounding communities in Massachusetts, eastern Connecticut, southern New Hampshire, and Rhode Island. The company offers various deposits, including certificate of deposit, individual retirement, money market, savings, NOW, demand deposit, and interest-bearing and noninterest-bearing checking accounts; and commercial real estate and multifamily, one- to four-family residential real estate, construction and land development, commercial and industrial, and consumer loans, as well as home equity loans and lines of credit.