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

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report)'s stock price gapped down before the market opened 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 traded.

NB Bancorp Stock Up 0.6%

The firm's 50-day moving average price is $17.13 and its 200-day moving average price is $17.76. The company has a market cap of $760.28 million, a price-to-earnings ratio of 15.88 and a beta of 0.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.08 and a quick ratio of 1.08.

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

Insiders Place Their Bets

In other news, Director Francis Orfanello purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was acquired at an average cost of $17.09 per share, with a total value of $85,450.00. Following the acquisition, the director owned 130,237 shares in the company, valued at approximately $2,225,750.33. This trade represents a 3.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in NB Bancorp by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,108,757 shares of the company's stock worth $38,105,000 after acquiring an additional 21,932 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of NB Bancorp by 7.8% in the 1st quarter. Wellington Management Group LLP now owns 1,610,589 shares of the company's stock worth $29,103,000 after buying an additional 116,988 shares during the last quarter. Northern Trust Corp lifted its position in shares of NB Bancorp by 4.7% in the 4th quarter. Northern Trust Corp now owns 358,539 shares of the company's stock worth $6,475,000 after buying an additional 15,985 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of NB Bancorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 319,436 shares of the company's stock worth $5,769,000 after buying an additional 4,138 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of NB Bancorp by 13.1% in the 1st quarter. Millennium Management LLC now owns 253,543 shares of the company's stock worth $4,582,000 after buying an additional 29,373 shares during the last quarter.

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.