Short Interest in NB Bancorp, Inc. (NASDAQ:NBBK) Expands By 24.5%

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,220,000 shares, a growth of 24.5% from the March 15th total of 980,300 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily volume of 256,500 shares, the days-to-cover ratio is presently 4.8 days.

Insider Activity at NB Bancorp

In other news, CEO Joseph P. Campanelli acquired 2,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $17.75 per share, for a total transaction of $35,500.00. Following the transaction, the chief executive officer now directly owns 55,000 shares in the company, valued at $976,250. This trade represents a 3.77 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NBBK. State Street Corp grew its position in NB Bancorp by 16.5% in the 3rd quarter. State Street Corp now owns 994,380 shares of the company's stock valued at $18,456,000 after buying an additional 140,960 shares in the last quarter. Barclays PLC boosted its holdings in shares of NB Bancorp by 73.0% in the third quarter. Barclays PLC now owns 81,114 shares of the company's stock valued at $1,506,000 after acquiring an additional 34,235 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of NB Bancorp by 1.9% in the third quarter. Geode Capital Management LLC now owns 885,243 shares of the company's stock valued at $16,433,000 after acquiring an additional 16,270 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of NB Bancorp by 119.5% during the third quarter. JPMorgan Chase & Co. now owns 199,804 shares of the company's stock valued at $3,708,000 after acquiring an additional 108,774 shares during the period. Finally, Hennessy Advisors Inc. raised its holdings in NB Bancorp by 24.2% during the fourth quarter. Hennessy Advisors Inc. now owns 205,000 shares of the company's stock worth $3,702,000 after purchasing an additional 40,000 shares in the last quarter.

NB Bancorp Stock Performance

Shares of NASDAQ:NBBK traded up $0.09 during trading hours on Friday, hitting $17.09. The stock had a trading volume of 146,042 shares, compared to its average volume of 266,204. The stock's fifty day simple moving average is $17.84 and its 200 day simple moving average is $18.60. The firm has a market capitalization of $715.10 million, a price-to-earnings ratio of 15.97 and a beta of 0.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.10 and a current ratio of 1.10. NB Bancorp has a 1-year low of $14.09 and a 1-year high of $21.05.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.35. NB Bancorp had a return on equity of 6.04% and a net margin of 13.86%. The business had revenue of $47.39 million during the quarter, compared to analyst estimates of $44.50 million. Sell-side analysts anticipate that NB Bancorp will post 1.39 earnings per share for the current fiscal year.

NB Bancorp Company 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.