Vanguard Group Inc. Grows Position in NB Bancorp, Inc. $NBBK

Key Points

• Vanguard Group Inc. increased its stake in NB Bancorp, owning 2,108,757 shares after acquiring an additional 21,932 shares, representing around 5.04% of the company worth approximately $38.1 million.
• NB Bancorp reported $0.40 earnings per share for the last quarter, exceeding the consensus estimate of $0.35.
• The company also announced a quarterly dividend of $0.07 per share, yielding 1.5%, with a payout ratio of 21.05%.

Vanguard Group Inc. raised its holdings in shares of NB Bancorp, Inc. (NASDAQ:NBBK - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,108,757 shares of the company's stock after acquiring an additional 21,932 shares during the period. Vanguard Group Inc. owned approximately 5.04% of NB Bancorp worth $38,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. SummerHaven Investment Management LLC lifted its stake in NB Bancorp by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 49,977 shares of the company's stock valued at $903,000 after acquiring an additional 751 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 acquiring an additional 789 shares during the period. MetLife Investment Management LLC lifted its stake in shares of NB Bancorp by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 24,251 shares of the company's stock valued at $438,000 after purchasing an additional 1,293 shares during the period. Invesco Ltd. lifted its stake in shares of NB Bancorp by 8.0% in the 4th quarter. Invesco Ltd. now owns 19,481 shares of the company's stock valued at $352,000 after purchasing an additional 1,446 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of NB Bancorp by 87.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,433 shares of the company's stock valued at $80,000 after purchasing an additional 2,073 shares during the period.

Analysts Set New Price Targets

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

NB Bancorp Price Performance

NASDAQ NBBK traded down $0.01 on Friday, hitting $18.89. The company had a trading volume of 168,391 shares, compared to its average volume of 185,670. The company has a market capitalization of $752.31 million, a PE ratio of 14.20 and a beta of 0.44. The company's fifty day moving average price is $18.18 and its 200-day moving average price is $17.73. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10. NB Bancorp, Inc. has a 12-month low of $15.09 and a 12-month high of $21.05.

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 the consensus estimate of $0.35 by $0.05. The company had revenue of $51.19 million during 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 earnings per share for the current year.

NB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend 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.