UBS Group AG Sells 232,259 Shares of NB Bancorp, Inc. $NBBK

Key Points

• UBS Group AG cut its NB Bancorp stake by 61.4% in the fourth quarter, selling 232,259 shares and leaving it with 146,094 shares worth about $2.9 million.
• Several insiders bought stock recently, including Director Hope Pascucci (20,000 shares) and CEO Joseph P. Campanelli (5,000 shares), suggesting some confidence from management.
• NB Bancorp reported Q1 earnings of $0.38 per share, missing estimates, while analysts currently mostly rate the stock Hold with an average price target of $24.

UBS Group AG trimmed its position in shares of NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 61.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,094 shares of the company's stock after selling 232,259 shares during the quarter. UBS Group AG owned approximately 0.37% of NB Bancorp worth $2,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NBBK. Vanguard Group Inc. grew its stake in NB Bancorp by 18.0% during the fourth quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company's stock worth $45,606,000 after buying an additional 350,899 shares during the last quarter. Marshall Wace LLP grew its stake in NB Bancorp by 165.9% during the second quarter. Marshall Wace LLP now owns 315,460 shares of the company's stock worth $5,634,000 after buying an additional 196,837 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in NB Bancorp by 27.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company's stock worth $12,266,000 after buying an additional 148,472 shares during the last quarter. Bridgeway Capital Management LLC bought a new stake in NB Bancorp during the third quarter worth about $2,026,000. Finally, First Trust Advisors LP grew its stake in NB Bancorp by 377.0% during the third quarter. First Trust Advisors LP now owns 125,469 shares of the company's stock worth $2,215,000 after buying an additional 99,165 shares during the last quarter.

Insider Activity at NB Bancorp

In other NB Bancorp news, Director Hope Pascucci acquired 20,000 shares of the business's stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average cost of $19.46 per share, for a total transaction of $389,200.00. Following the completion of the acquisition, the director directly owned 142,402 shares of the company's stock, valued at approximately $2,771,142.92. This represents a 16.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph P. Campanelli acquired 5,000 shares of the business's stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $20.77 per share, for a total transaction of $103,850.00. Following the completion of the acquisition, the chief executive officer directly owned 47,000 shares of the company's stock, valued at $976,190. This trade represents a 11.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 34,000 shares of company stock worth $670,035 over the last 90 days. 5.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NBBK. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NB Bancorp in a research note on Thursday, April 2nd. Piper Sandler decreased their price objective on shares of NB Bancorp from $25.00 to $24.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. Finally, Zacks Research cut shares of NB Bancorp from a "hold" rating to a "strong sell" rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $24.00.

NB Bancorp Price Performance

NBBK opened at $19.78 on Tuesday. NB Bancorp, Inc. has a one year low of $15.44 and a one year high of $22.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.07 and a quick ratio of 1.06. The company's 50 day simple moving average is $20.75 and its 200-day simple moving average is $20.62. The stock has a market capitalization of $884.36 million, a P/E ratio of 14.44 and a beta of 0.06.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.16). NB Bancorp had a net margin of 13.81% and a return on equity of 8.57%. The company had revenue of $69.38 million for the quarter, compared to the consensus estimate of $70.83 million. Sell-side analysts anticipate that NB Bancorp, Inc. will post 2.02 earnings per share for the current fiscal year.

NB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date was Wednesday, May 6th. NB Bancorp's dividend payout ratio is currently 20.44%.

NB Bancorp Profile

NB Bancorp, Inc NASDAQ: NBBK is the bank holding company for NB Bank, N.A., a full-service community bank headquartered in Newburyport, Massachusetts. Through a network of branches across Northeast Massachusetts and southern New Hampshire, the company offers deposit and lending services tailored to individuals and small- to medium-sized businesses.

The company's core product lineup includes checking and savings accounts, money market deposits and certificates of deposit, along with residential mortgage loans, home equity lines of credit and commercial lending solutions.

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