NB Bancorp (NASDAQ:NBBK) Shares Gap Down - What's Next?

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $18.63, but opened at $18.11. NB Bancorp shares last traded at $18.95, with a volume of 25,674 shares trading hands.

NB Bancorp Trading Up 0.6%

The company has a 50-day simple moving average of $17.10 and a 200-day simple moving average of $17.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $760.28 million, a P/E ratio of 15.88 and a beta of 0.46.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. NB Bancorp had a net margin of 14.73% and a return on equity of 6.61%. The business had revenue of $47.39 million for the quarter, compared to the consensus estimate of $44.50 million. On average, sell-side analysts forecast that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling at NB Bancorp

In related news, Director Francis Orfanello purchased 5,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were acquired at an average cost of $17.09 per share, with a total value of $85,450.00. Following the completion of the purchase, the director directly owned 130,237 shares of the company's stock, valued at $2,225,750.33. This trade represents a 3.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in shares of NB Bancorp by 79.5% during the fourth quarter. Ameriprise Financial Inc. now owns 79,500 shares of the company's stock valued at $1,436,000 after acquiring an additional 35,200 shares during the period. Nuveen Asset Management LLC raised its holdings in NB Bancorp by 34.9% during the 4th quarter. Nuveen Asset Management LLC now owns 99,384 shares of the company's stock worth $1,795,000 after purchasing an additional 25,690 shares during the last quarter. Rhumbline Advisers lifted its position in NB Bancorp by 44.4% during the 4th quarter. Rhumbline Advisers now owns 77,677 shares of the company's stock valued at $1,403,000 after purchasing an additional 23,870 shares during the period. Millennium Management LLC boosted its stake in shares of NB Bancorp by 143.6% in the 4th quarter. Millennium Management LLC now owns 224,170 shares of the company's stock valued at $4,049,000 after purchasing an additional 132,130 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of NB Bancorp by 259.6% during the 4th quarter. Two Sigma Advisers LP now owns 37,400 shares of the company's stock worth $675,000 after buying an additional 27,000 shares during the period.

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.