EJF Capital LLC Increases Position in NB Bancorp, Inc. $NBBK

Key Points

• EJF Capital LLC has increased its stake in NB Bancorp, Inc. by 56.8%, acquiring an additional 25,341 shares to own a total of 69,963 shares.
• Piper Sandler has raised the target price for NB Bancorp from $19.00 to $20.00, assigning the stock an "overweight" rating, reflecting a positive outlook.
• NB Bancorp recently announced a quarterly dividend of $0.07, translating to an annualized yield of 1.5% and a payout ratio of 21.05%.

EJF Capital LLC raised its holdings in NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 56.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,963 shares of the company's stock after purchasing an additional 25,341 shares during the quarter. EJF Capital LLC owned 0.17% of NB Bancorp worth $1,264,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of NB Bancorp during the 1st quarter valued at $26,000. Tower Research Capital LLC TRC raised its position in NB Bancorp by 87.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,433 shares of the company's stock worth $80,000 after purchasing an additional 2,073 shares during the last quarter. GAMMA Investing LLC raised its position in shares of NB Bancorp by 1,720.1% in the 1st quarter. GAMMA Investing LLC now owns 4,987 shares of the company's stock worth $90,000 after acquiring an additional 4,713 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of NB Bancorp in the 4th quarter worth about $198,000. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of NB Bancorp in the 4th quarter worth about $212,000.

NB Bancorp Stock Down 1.0%

NBBK stock traded down $0.18 during mid-day trading on Tuesday, reaching $18.63. 35,539 shares of the company traded hands, compared to its average volume of 246,722. The stock has a market cap of $741.87 million, a price-to-earnings ratio of 14.03 and a beta of 0.45. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17. NB Bancorp, Inc. has a fifty-two week low of $15.09 and a fifty-two week high of $21.05. The firm's 50 day moving average price is $18.36 and its 200 day moving average price is $17.71.

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, beating 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 business had revenue of $51.19 million during the quarter. As a group, equities research analysts predict that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.

NB Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors 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 21.05%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their price objective on NB Bancorp from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average 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.