Martingale Asset Management L P Purchases Shares of 15,500 NB Bancorp, Inc. $NBBK

Key Points

• Martingale Asset Management has acquired 15,500 shares of NB Bancorp, Inc. valued at approximately $280,000 during the first quarter, highlighting increasing institutional interest in the company.
• NB Bancorp recently announced a quarterly dividend of $0.07 per share, reflecting an annualized yield of 1.5% with a payout ratio of 21.05%.
• Piper Sandler has upgraded the target price for NB Bancorp from $19.00 to $20.00, maintaining an "overweight" rating amid a current average rating of "Buy" for the stock.

Martingale Asset Management L P purchased a new stake in NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,500 shares of the company's stock, valued at approximately $280,000.

Several other institutional investors also recently modified their holdings of NBBK. Nuveen LLC bought a new position in shares of NB Bancorp in the first quarter valued at $2,390,000. Millennium Management LLC increased its holdings in shares of 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 in the last quarter. Wellington Management Group LLP increased its holdings in shares of 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 in the last quarter. Focus Partners Wealth bought a new position in shares of NB Bancorp in the fourth quarter valued at $1,607,000. Finally, International Assets Investment Management LLC acquired a new stake in NB Bancorp during the 1st quarter valued at $987,000.

NB Bancorp Price Performance

Shares of NASDAQ:NBBK opened at $18.66 on Tuesday. The company's fifty day moving average is $17.96 and its two-hundred day moving average is $17.73. 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 12-month low of $15.09 and a 12-month high of $21.05. The company has a market cap of $743.23 million, a P/E ratio of 14.03 and a beta of 0.44.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter. Equities analysts expect that NB Bancorp, Inc. will post 1.39 earnings per share for the current fiscal year.

NB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders 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 dividend yield of 1.5%. NB Bancorp's dividend payout ratio is 21.05%.

Analyst Upgrades and Downgrades

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