International Assets Investment Management LLC Raises Holdings in NB Bancorp, Inc. $NBBK

Key Points

• International Assets Investment Management LLC increased its holdings in NB Bancorp, Inc. by 59.2%, acquiring an additional 32,300 shares during the second quarter.
• NB Bancorp recently reported $0.40 EPS for the quarter, exceeding analysts' estimates of $0.35, with a return on equity of 7.37% and a net margin of 15.86%.
• The company announced a quarterly dividend of $0.07, yielding 1.6%, with a payout ratio of 21.05%.

International Assets Investment Management LLC boosted its holdings in shares of NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 59.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,900 shares of the company's stock after purchasing an additional 32,300 shares during the quarter. International Assets Investment Management LLC owned approximately 0.21% of NB Bancorp worth $1,552,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of NB Bancorp during the 1st quarter worth approximately $26,000. GAMMA Investing LLC increased its holdings in 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. Public Employees Retirement System of Ohio acquired a new position in NB Bancorp during the second quarter worth $193,000. State of Wyoming raised its position in NB Bancorp by 40.9% during the first quarter. State of Wyoming now owns 11,782 shares of the company's stock worth $213,000 after acquiring an additional 3,421 shares during the period. Finally, AQR Capital Management LLC purchased a new position in NB Bancorp during the first quarter valued at $253,000.

NB Bancorp Stock Up 1.5%

Shares of NASDAQ NBBK opened at $17.32 on Monday. The company has a market capitalization of $689.86 million, a P/E ratio of 13.02 and a beta of 0.37. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10. The company has a 50 day simple moving average of $18.22 and a 200-day simple moving average of $17.59. NB Bancorp, Inc. has a 1 year low of $15.09 and a 1 year high of $21.05.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.40 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 firm had revenue of $51.19 million for the quarter. On average, equities research analysts predict that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

NB Bancorp Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, August 6th. NB Bancorp's payout ratio is 21.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Zacks Research cut shares of NB Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 22nd. Piper Sandler raised their target price on shares of NB Bancorp from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Weiss Ratings upgraded NB Bancorp from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $20.00.

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.

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