PDT Partners LLC Has $674,000 Stake in NB Bancorp, Inc. $NBBK

Key Points

• PDT Partners LLC increased its holdings in NB Bancorp, Inc. by 78.5%, bringing their total ownership to 37,286 shares worth approximately $674,000.
• Analysts, including Piper Sandler, have raised the target price for NB Bancorp from $19.00 to $20.00, with a consensus rating of "Buy".
• NB Bancorp recently declared a quarterly dividend of $0.07 per share, reflecting an annualized yield of 1.5%.

PDT Partners LLC boosted its holdings in shares of NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 78.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,286 shares of the company's stock after acquiring an additional 16,403 shares during the quarter. PDT Partners LLC owned 0.09% of NB Bancorp worth $674,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. SummerHaven Investment Management LLC boosted its position in NB Bancorp by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 49,977 shares of the company's stock worth $903,000 after acquiring an additional 751 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NB Bancorp by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,152 shares of the company's stock valued at $400,000 after buying an additional 789 shares during the period. MetLife Investment Management LLC boosted its stake in shares of NB Bancorp by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 24,251 shares of the company's stock valued at $438,000 after buying an additional 1,293 shares during the period. Quarry LP acquired a new stake in shares of NB Bancorp during the 1st quarter valued at $26,000. Finally, American Century Companies Inc. boosted its stake in shares of NB Bancorp by 8.0% during the 1st quarter. American Century Companies Inc. now owns 25,697 shares of the company's stock valued at $464,000 after buying an additional 1,903 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their price target on 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, the company has a consensus rating of "Buy" and an average price target of $20.00.

NB Bancorp Stock Performance

NBBK traded down $0.13 during trading on Tuesday, hitting $18.68. The stock had a trading volume of 23,717 shares, compared to its average volume of 246,656. The firm has a market cap of $744.18 million, a PE ratio of 14.02 and a beta of 0.45. 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 company has a 50 day simple moving average of $18.36 and a 200-day simple moving average of $17.71.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $0.40 EPS for the quarter, topping 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 company had revenue of $51.19 million during the quarter. Analysts expect that NB Bancorp, Inc. will post 1.39 EPS for the current year.

NB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. NB Bancorp's payout ratio is 21.05%.

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.