Hotchkis & Wiley Capital Management LLC Reduces Holdings in NB Bancorp, Inc. $NBBK

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in NB Bancorp, Inc. by 3.1% in Q1, holding 526,810 shares valued at approximately $9.52 million as of the latest SEC filing.
• Several hedge funds, including Tower Research Capital LLC and GAMMA Investing LLC, have significantly increased their positions in NB Bancorp, with increases of 87.8% and 1,720.1%, respectively.
• NB Bancorp announced a quarterly dividend of $0.07 per share, representing a dividend yield of 1.5%, while analysts have set an average target price of $20.00 for its shares.

Hotchkis & Wiley Capital Management LLC cut its stake in NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 3.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 526,810 shares of the company's stock after selling 16,590 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 1.26% of NB Bancorp worth $9,519,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of NB Bancorp by 87.8% during the fourth 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 in the last quarter. GAMMA Investing LLC grew its stake in NB Bancorp by 1,720.1% during the 1st quarter. GAMMA Investing LLC now owns 4,987 shares of the company's stock worth $90,000 after buying an additional 4,713 shares during the last quarter. ProShare Advisors LLC acquired a new position in NB Bancorp during the fourth quarter worth approximately $198,000. D. E. Shaw & Co. Inc. acquired a new position in NB Bancorp during the fourth quarter worth approximately $212,000. Finally, Northeast Investment Management purchased a new stake in NB Bancorp in the first quarter valued at approximately $217,000.

NB Bancorp Trading Up 3.9%

NASDAQ:NBBK opened at $18.83 on Monday. NB Bancorp, Inc. has a 12-month low of $15.09 and a 12-month high of $21.05. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. The stock's 50 day simple moving average is $17.91 and its 200-day simple moving average is $17.74. The firm has a market cap of $750.00 million, a P/E ratio of 14.16 and a beta of 0.44.

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

NB Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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