PDT Partners LLC Has $674,000 Position 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 stake in shares of NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 78.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of NB Bancorp during the 1st quarter worth about $2,390,000. Millennium Management LLC increased its holdings in shares of NB Bancorp by 143.6% during the fourth quarter. Millennium Management LLC now owns 224,170 shares of the company's stock worth $4,049,000 after buying an additional 132,130 shares in the last quarter. Wellington Management Group LLP raised its stake 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 acquiring an additional 116,988 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of NB Bancorp in the 4th quarter worth approximately $1,607,000. Finally, International Assets Investment Management LLC bought a new stake in NB Bancorp during the 1st quarter worth approximately $987,000.

Analyst Ratings Changes

Separately, Piper Sandler increased their price target on NB Bancorp from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, NB Bancorp has a consensus rating of "Buy" and an average price target of $20.00.

NB Bancorp Trading Down 1.5%

Shares of NB Bancorp stock traded down $0.28 on Friday, hitting $18.85. 130,297 shares of the company's stock traded hands, compared to its average volume of 167,637. The firm's 50-day moving average price is $18.34 and its two-hundred day moving average price is $17.72. 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 stock has a market capitalization of $750.80 million, a PE ratio of 13.27 and a beta of 0.46. NB Bancorp, Inc. has a one year low of $15.09 and a one year high of $21.05.

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, 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 return on equity of 7.37% and a net margin of 15.86%. On average, research analysts expect that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.

NB Bancorp Dividend Announcement

The business also recently announced 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 payout ratio is presently 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.