Panagora Asset Management Inc. Buys 36,099 Shares of NB Bancorp, Inc. $NBBK

Key Points

• Panagora Asset Management Inc. increased its stake in NB Bancorp, Inc. by 24.9% in the 1st quarter, owning 181,282 shares worth approximately $3.28 million.
• NB Bancorp reported a quarterly earnings per share of $0.40, surpassing the estimated $0.35, with a revenue of $51.19 million.
• The company announced a quarterly dividend of $0.07 per share, equating to an annual yield of 1.5% and a payout ratio of 21.05%.

Panagora Asset Management Inc. raised its holdings in shares of NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 24.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 181,282 shares of the company's stock after purchasing an additional 36,099 shares during the period. Panagora Asset Management Inc. owned 0.43% of NB Bancorp worth $3,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NBBK. Tower Research Capital LLC TRC grew its holdings 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 valued at $80,000 after buying an additional 2,073 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of NB Bancorp by 1,720.1% during the first quarter. GAMMA Investing LLC now owns 4,987 shares of the company's stock valued at $90,000 after buying an additional 4,713 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of NB Bancorp during the 4th quarter valued at about $198,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of NB Bancorp during the 4th quarter valued at about $212,000. Finally, State of Wyoming boosted its holdings in shares of NB Bancorp by 40.9% during the 1st quarter. State of Wyoming now owns 11,782 shares of the company's stock valued at $213,000 after acquiring an additional 3,421 shares during the last quarter.

NB Bancorp Stock Performance

Shares of NB Bancorp stock traded down $0.28 on Friday, hitting $18.85. 130,297 shares of the company's stock were exchanged, compared to its average volume of 167,637. The company has a 50-day simple moving average of $18.34 and a 200-day simple moving average of $17.73. The stock has a market capitalization of $750.80 million, a PE ratio of 14.17 and a beta of 0.46. NB Bancorp, Inc. has a 1 year low of $15.09 and a 1 year high of $21.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm 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, equities analysts anticipate that NB Bancorp, Inc. will post 1.39 EPS for the current year.

NB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were given a dividend of $0.07 per share. 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 presently 21.05%.

Analyst Upgrades and Downgrades

Separately, 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 report on Thursday, July 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $20.00.

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.