Dimensional Fund Advisors LP Purchases 234,356 Shares of NB Bancorp, Inc. $NBBK

Key Points

• Dimensional Fund Advisors increased its NB Bancorp stake by 81.4%, purchasing 234,356 additional shares to own 522,384 shares worth approximately $11.0 million, or 1.16% of the company.
• Analyst sentiment is favorable: NB Bancorp has a consensus “Buy” rating and an average price target of $25.50, while recent target increases reached as high as $26.00.
• NB Bancorp exceeded quarterly earnings expectations, reporting $0.55 in EPS versus a $0.48 estimate. The company also declared a $0.07 quarterly dividend, equivalent to a 1.2% annualized yield.

Dimensional Fund Advisors LP lifted its holdings in NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 81.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 522,384 shares of the company's stock after buying an additional 234,356 shares during the period. Dimensional Fund Advisors LP owned approximately 1.16% of NB Bancorp worth $11,006,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AltraVue Capital LLC bought a new stake in NB Bancorp during the fourth quarter worth $13,735,000. Tieton Capital Management LLC bought a new position in NB Bancorp in the 4th quarter valued at $10,404,000. Vanguard Group Inc. grew its stake in NB Bancorp by 18.0% in the 4th quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company's stock valued at $45,606,000 after purchasing an additional 350,899 shares during the period. UBS Group AG increased its position in shares of NB Bancorp by 264.4% during the 3rd quarter. UBS Group AG now owns 378,353 shares of the company's stock valued at $6,678,000 after purchasing an additional 274,511 shares during the last quarter. Finally, Nuveen LLC increased its position in shares of NB Bancorp by 218.9% during the 4th quarter. Nuveen LLC now owns 346,779 shares of the company's stock valued at $6,873,000 after purchasing an additional 238,035 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NBBK. Zacks Research raised shares of NB Bancorp from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of NB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, July 14th. Wall Street Zen raised shares of NB Bancorp from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods boosted 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, Piper Sandler boosted their target price on shares of NB Bancorp from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, NB Bancorp has a consensus rating of "Buy" and an average target price of $25.50.

Insider Transactions at NB Bancorp

In related news, CEO Joseph P. Campanelli bought 3,000 shares of the company's stock in a transaction on Friday, May 15th. The shares were purchased at an average price of $19.18 per share, for a total transaction of $57,540.00. Following the completion of the transaction, the chief executive officer directly owned 377,790 shares in the company, valued at approximately $7,246,012.20. The trade was a 0.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.10% of the stock is owned by insiders.

NB Bancorp Stock Performance

Shares of NBBK opened at $22.58 on Monday. NB Bancorp, Inc. has a fifty-two week low of $16.83 and a fifty-two week high of $23.47. The business has a 50-day moving average of $21.19 and a 200 day moving average of $21.09. The firm has a market cap of $1.01 billion and a P/E ratio of 14.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.07.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.48 by $0.07. NB Bancorp had a net margin of 14.27% and a return on equity of 9.21%. As a group, research analysts forecast that NB Bancorp, Inc. will post 2.13 EPS for the current year.

NB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. NB Bancorp's payout ratio is currently 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.

Want to see what other hedge funds are holding NBBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NB Bancorp, Inc. (NASDAQ:NBBK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source