EJF Capital LLC Grows Stock Holdings 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 increased its stake in NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 56.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,963 shares of the company's stock after acquiring an additional 25,341 shares during the period. EJF Capital LLC owned approximately 0.17% of NB Bancorp worth $1,264,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of NB Bancorp by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,108,757 shares of the company's stock valued at $38,105,000 after acquiring an additional 21,932 shares in the last quarter. Wellington Management Group LLP increased its holdings in NB Bancorp by 7.8% in the first quarter. Wellington Management Group LLP now owns 1,610,589 shares of the company's stock valued at $29,103,000 after buying an additional 116,988 shares during the last quarter. Northern Trust Corp increased its holdings in NB Bancorp by 4.7% in the fourth quarter. Northern Trust Corp now owns 358,539 shares of the company's stock valued at $6,475,000 after buying an additional 15,985 shares during the last quarter. Millennium Management LLC increased its holdings in NB Bancorp by 143.6% in the fourth quarter. Millennium Management LLC now owns 224,170 shares of the company's stock valued at $4,049,000 after buying an additional 132,130 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in NB Bancorp by 7.7% in the fourth quarter. Deutsche Bank AG now owns 184,409 shares of the company's stock valued at $3,330,000 after buying an additional 13,124 shares during the last quarter.

Analysts Set New Price Targets

Separately, Piper Sandler increased their target price on NB Bancorp from $19.00 to $20.00 and gave the company 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 company currently has a consensus rating of "Buy" and an average target price of $20.00.

NB Bancorp Stock Performance

Shares of NBBK stock traded down $0.28 during mid-day trading on Friday, hitting $18.85. 130,297 shares of the stock were exchanged, compared to its average volume of 167,637. The stock's fifty day simple moving average is $18.34 and its two-hundred day simple moving average is $17.72. The stock has a market capitalization of $750.80 million, a price-to-earnings ratio of 14.17 and a beta of 0.46. NB Bancorp, Inc. has a 12-month low of $15.09 and a 12-month high of $21.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10.

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

NB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. NB Bancorp's dividend payout ratio (DPR) is presently 21.05%.

About NB Bancorp

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.