524,935 Shares in NB Bancorp, Inc. $NBBK Acquired by Tieton Capital Management LLC

Key Points

• Tieton Capital Management bought a new stake of 524,935 shares in NB Bancorp, worth about $10.4 million, making it the fund’s 12th largest holding and about 1.32% of the bank’s shares.
• Other large institutions also increased their positions, including Vanguard, Geode Capital Management, and Hotchkis & Wiley, showing continued institutional interest in the stock.
• NB Bancorp’s latest earnings missed estimates, with EPS of $0.38 versus $0.54 expected, even as the company maintained a quarterly dividend of $0.07 per share and analysts currently rate the stock a consensus Hold.

Tieton Capital Management LLC acquired a new position in NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 524,935 shares of the company's stock, valued at approximately $10,404,000. NB Bancorp comprises approximately 3.6% of Tieton Capital Management LLC's investment portfolio, making the stock its 12th largest position. Tieton Capital Management LLC owned 1.32% of NB Bancorp as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in NB Bancorp by 18.0% during the 4th quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company's stock worth $45,606,000 after acquiring an additional 350,899 shares during the period. Geode Capital Management LLC grew its holdings in NB Bancorp by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 966,662 shares of the company's stock worth $19,162,000 after acquiring an additional 90,014 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in NB Bancorp by 27.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company's stock worth $12,266,000 after acquiring an additional 148,472 shares during the period. UBS Group AG grew its holdings in NB Bancorp by 264.4% during the 3rd quarter. UBS Group AG now owns 378,353 shares of the company's stock worth $6,678,000 after acquiring an additional 274,511 shares during the period. Finally, Marshall Wace LLP grew its holdings in NB Bancorp by 165.9% during the 2nd quarter. Marshall Wace LLP now owns 315,460 shares of the company's stock worth $5,634,000 after acquiring an additional 196,837 shares during the period.

Wall Street Analysts Forecast Growth

NBBK has been the subject of a number of analyst reports. Zacks Research lowered shares of NB Bancorp from a "hold" rating to a "strong sell" rating in a report on Monday, April 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NB Bancorp in a report on Thursday, April 2nd. Finally, Piper Sandler lowered their target price on shares of NB Bancorp from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, NB Bancorp presently has an average rating of "Hold" and an average target price of $24.00.

NB Bancorp Price Performance

Shares of NBBK stock opened at $19.69 on Tuesday. NB Bancorp, Inc. has a 12-month low of $15.44 and a 12-month high of $22.86. The firm has a market capitalization of $880.26 million, a price-to-earnings ratio of 14.37 and a beta of 0.06. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average of $20.69 and a 200-day moving average of $20.68.

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

NB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.4%. NB Bancorp's payout ratio is 20.44%.

Insiders Place Their Bets

In related news, Director Hope Pascucci bought 20,000 shares of NB Bancorp stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average cost of $19.46 per share, with a total value of $389,200.00. Following the purchase, the director owned 142,402 shares in the company, valued at approximately $2,771,142.92. This trade represents a 16.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph P. Campanelli bought 5,000 shares of NB Bancorp stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average cost of $20.77 per share, with a total value of $103,850.00. Following the completion of the purchase, the chief executive officer owned 47,000 shares in the company, valued at approximately $976,190. This trade represents a 11.90% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 34,000 shares of company stock valued at $670,035. Company insiders own 5.10% of the company's stock.

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.

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