Rhumbline Advisers Sells 26,872 Shares of NB Bancorp, Inc. $NBBK

Key Points

• Rhumbline Advisers reduced its stake in NB Bancorp by 34.6%, selling 26,872 shares, and now holds 50,805 shares valued at approximately $918,000.
• Piper Sandler upgraded NB Bancorp's stock rating to "overweight" and increased the target price from $19.00 to $20.00.
• NB Bancorp reported a quarterly EPS of $0.40, exceeding analysts' estimates, and announced a quarterly dividend of $0.07 per share.

Rhumbline Advisers lowered its position in NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 34.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 50,805 shares of the company's stock after selling 26,872 shares during the period. Rhumbline Advisers owned 0.13% of NB Bancorp worth $918,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBBK. Nuveen LLC bought a new stake in shares of NB Bancorp in the 1st quarter valued at $2,390,000. Millennium Management LLC boosted its holdings in NB Bancorp by 143.6% during the 4th quarter. Millennium Management LLC now owns 224,170 shares of the company's stock worth $4,049,000 after acquiring an additional 132,130 shares during the last quarter. Wellington Management Group LLP boosted its holdings in NB Bancorp by 7.8% during the 1st quarter. Wellington Management Group LLP now owns 1,610,589 shares of the company's stock worth $29,103,000 after acquiring an additional 116,988 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of NB Bancorp in the 1st quarter worth about $987,000. Finally, Piper Sandler & CO. purchased a new position in shares of NB Bancorp in the 1st quarter worth about $716,000.

NB Bancorp Price Performance

Shares of NBBK stock traded down $0.11 during trading on Tuesday, hitting $18.33. The company had a trading volume of 19,504 shares, compared to its average volume of 242,984. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17. The stock's 50-day moving average is $18.31 and its two-hundred day moving average is $17.69. The stock has a market capitalization of $730.04 million, a price-to-earnings ratio of 13.77 and a beta of 0.45. NB Bancorp, Inc. has a 52 week low of $15.09 and a 52 week high of $21.05.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last posted its quarterly earnings data 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, analysts predict that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.

NB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were given a $0.07 dividend. 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 is 21.05%.

Analyst Upgrades and Downgrades

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