Hennessy Advisors Inc. Sells 15,000 Shares of NB Bancorp, Inc. $NBBK

Key Points

• Hennessy Advisors Inc. has reduced its stake in NB Bancorp, Inc. by 7.7%, selling 15,000 shares and owning approximately 0.44% of the company valued at $3,215,000 as of their recent SEC filing.
• GAMMA Investing LLC significantly increased its holdings in NB Bancorp by 1,720.1%, acquiring nearly 5,000 shares worth $90,000 during the first quarter.
• Analysts have mixed views on NB Bancorp, with Piper Sandler raising the target price to $20.00 while Zacks downgraded the stock to a “hold” rating, leading to a consensus rating of “Hold”.

Hennessy Advisors Inc. reduced its position in NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 7.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,000 shares of the company's stock after selling 15,000 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.44% of NB Bancorp worth $3,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of NBBK. GAMMA Investing LLC boosted its position in shares of NB Bancorp by 1,720.1% in the first quarter. GAMMA Investing LLC now owns 4,987 shares of the company's stock worth $90,000 after purchasing an additional 4,713 shares during the period. Investment Advisory Group LLC bought a new position in shares of NB Bancorp in the first quarter worth approximately $361,000. Northeast Investment Management purchased a new position in shares of NB Bancorp in the first quarter worth $217,000. SummerHaven Investment Management LLC lifted its holdings in shares of NB Bancorp by 1.5% in the first quarter. SummerHaven Investment Management LLC now owns 49,977 shares of the company's stock worth $903,000 after buying an additional 751 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of NB Bancorp in the first quarter worth $987,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of NB Bancorp from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Zacks Research downgraded shares of NB Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, September 22nd. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of NB Bancorp in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $20.00.

NB Bancorp Trading Up 0.5%

NASDAQ NBBK opened at $17.69 on Friday. NB Bancorp, Inc. has a 12 month low of $15.09 and a 12 month high of $21.05. The company's 50-day moving average price is $18.20 and its 200-day moving average price is $17.66. The stock has a market cap of $704.59 million, a PE ratio of 13.30 and a beta of 0.37. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17.

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

NB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. NB Bancorp's dividend payout ratio is 21.05%.

NB Bancorp 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.

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