NB Bancorp (NASDAQ:NBBK) Shares Gap Down - Here's Why

Shares of NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $16.65, but opened at $15.75. NB Bancorp shares last traded at $15.61, with a volume of 212,829 shares changing hands.

NB Bancorp Stock Performance

The business's fifty day moving average is $16.87 and its two-hundred day moving average is $18.17. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $658.05 million, a PE ratio of 15.16 and a beta of 0.41.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last posted its 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 firm had revenue of $47.39 million during the quarter, compared to analyst estimates of $44.50 million. NB Bancorp had a net margin of 13.86% and a return on equity of 6.04%. As a group, research analysts anticipate that NB Bancorp, Inc. will post 1.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Francis Orfanello acquired 5,000 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was bought 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 now directly owns 130,237 shares of the company's stock, valued at $2,225,750.33. This represents a 3.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph P. Campanelli acquired 2,000 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $17.75 per share, with a total value of $35,500.00. Following the completion of the purchase, the chief executive officer now directly owns 55,000 shares of the company's stock, valued at $976,250. This trade represents a 3.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 7,500 shares of company stock valued at $130,320 over the last three months. 1.90% of the stock is owned by company insiders.

Institutional Trading of NB Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of NB Bancorp in the first quarter valued at about $26,000. Tower Research Capital LLC TRC raised its holdings in shares of NB Bancorp by 87.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,433 shares of the company's stock valued at $80,000 after acquiring an additional 2,073 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of NB Bancorp by 1,720.1% in the first quarter. GAMMA Investing LLC now owns 4,987 shares of the company's stock valued at $90,000 after acquiring an additional 4,713 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of NB Bancorp by 375.5% in the fourth quarter. Quantbot Technologies LP now owns 6,191 shares of the company's stock valued at $112,000 after acquiring an additional 4,889 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of NB Bancorp in the fourth quarter valued at about $128,000.

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.