AltraVue Capital LLC Invests $13.74 Million in NB Bancorp, Inc. $NBBK

Key Points

• AltraVue Capital bought a new stake in NB Bancorp, purchasing 693,000 shares worth about $13.74 million. The position now represents roughly 1.1% of AltraVue’s portfolio and about 1.74% of NB Bancorp.
• Several other institutional investors also increased their holdings, including Vanguard, Geode Capital, Hotchkis & Wiley, and Goldman Sachs, indicating broad institutional interest in the stock.
• NB Bancorp reported Q1 earnings of $0.38 per share, missing analyst estimates, and analysts currently rate the stock Hold on average with a $24 price target. The company also paid a quarterly dividend of $0.07 per share, yielding about 1.4%.

AltraVue Capital LLC acquired a new stake in shares of NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 693,000 shares of the company's stock, valued at approximately $13,735,000. NB Bancorp accounts for approximately 1.1% of AltraVue Capital LLC's holdings, making the stock its 25th biggest holding. AltraVue Capital LLC owned approximately 1.74% of NB Bancorp as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NBBK. Vanguard Group Inc. grew its holdings in NB Bancorp by 18.0% in the fourth 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 last quarter. Geode Capital Management LLC grew its holdings in NB Bancorp by 10.3% in the fourth 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 last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in NB Bancorp by 27.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company's stock worth $12,266,000 after purchasing an additional 148,472 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in NB Bancorp by 13.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 593,888 shares of the company's stock worth $11,771,000 after purchasing an additional 68,990 shares during the last quarter. Finally, Tieton Capital Management LLC purchased a new position in NB Bancorp in the fourth quarter worth $10,404,000.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NBBK shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NB Bancorp in a report on Thursday, April 2nd. Zacks Research downgraded shares of NB Bancorp from a "hold" rating to a "strong sell" rating in a research note on Monday, April 27th. Finally, Piper Sandler lowered their price objective on shares of NB Bancorp from $25.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, April 24th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $24.00.

Insider Activity

In other NB Bancorp news, CEO Joseph P. Campanelli acquired 3,000 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $19.18 per share, with a total value of $57,540.00. Following the purchase, the chief executive officer owned 377,790 shares in the company, valued at approximately $7,246,012.20. The trade was a 0.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hope Pascucci bought 20,000 shares of the firm's stock in a transaction on Friday, April 24th. The stock was purchased 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 directly owned 142,402 shares in the company, valued at $2,771,142.92. The trade was a 16.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 29,000 shares of company stock valued at $566,185. 5.10% of the stock is owned by corporate insiders.

NB Bancorp Trading Up 0.1%

NASDAQ NBBK opened at $19.93 on Friday. The company has a market capitalization of $891.07 million, a PE ratio of 14.55 and a beta of 0.06. The company has a fifty day moving average of $20.62 and a 200 day moving average of $20.69. NB Bancorp, Inc. has a 1 year low of $15.44 and a 1 year high of $22.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.07 and a quick ratio of 1.06.

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

NB Bancorp Announces Dividend

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

NB Bancorp 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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