Wellington Management Group LLP Grows Stock Holdings in NB Bancorp, Inc. $NBBK

Key Points

• Wellington Management Group LLP increased its stake in NB Bancorp, Inc. by 7.8%, acquiring 116,988 additional shares, bringing its total ownership to approximately 3.85% valued at $29.1 million.
• Piper Sandler raised the target price for NB Bancorp shares from $19.00 to $20.00, supported by a positive analyst rating of "overweight" and a general "Buy" consensus.
• NB Bancorp recently reported earnings of $0.40 per share, exceeding estimates, along with a quarterly dividend of $0.07 per share, reflecting a yield of 1.5% for investors.

Wellington Management Group LLP grew its holdings in NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,610,589 shares of the company's stock after purchasing an additional 116,988 shares during the quarter. Wellington Management Group LLP owned approximately 3.85% of NB Bancorp worth $29,103,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NBBK. Tower Research Capital LLC TRC raised its holdings in shares of NB Bancorp by 87.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,433 shares of the company's stock valued at $80,000 after purchasing an additional 2,073 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of NB Bancorp by 1,720.1% in the 1st quarter. GAMMA Investing LLC now owns 4,987 shares of the company's stock valued at $90,000 after purchasing an additional 4,713 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of NB Bancorp during the 4th quarter worth approximately $198,000. D. E. Shaw & Co. Inc. bought a new position in shares of NB Bancorp during the 4th quarter worth approximately $212,000. Finally, Northeast Investment Management bought a new position in shares of NB Bancorp during the 1st quarter worth approximately $217,000.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their price objective 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. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $20.00.

NB Bancorp Stock Performance

NASDAQ:NBBK traded down $0.01 during trading hours on Friday, hitting $18.89. 168,391 shares of the company were exchanged, compared to its average volume of 185,670. The stock has a market capitalization of $752.39 million, a price-to-earnings ratio of 14.20 and a beta of 0.44. NB Bancorp, Inc. has a 52-week low of $15.09 and a 52-week high of $21.05. 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's 50 day moving average price is $18.18 and its 200-day moving average price is $17.74.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last released its 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 company had revenue of $51.19 million for the quarter. NB Bancorp had a net margin of 15.86% and a return on equity of 7.37%. As a group, research analysts forecast that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

NB Bancorp Announces Dividend

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

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.