Short Interest in NB Bancorp, Inc. (NASDAQ:NBBK) Declines By 17.2%

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,010,000 shares, a decline of 17.2% from the March 31st total of 1,220,000 shares. Based on an average trading volume of 253,300 shares, the days-to-cover ratio is currently 4.0 days. Approximately 2.9% of the shares of the stock are sold short.

NB Bancorp Stock Performance

NBBK traded up $0.18 on Wednesday, hitting $17.35. 49,894 shares of the company traded hands, compared to its average volume of 260,714. NB Bancorp has a 12-month low of $14.20 and a 12-month high of $21.05. The stock has a market capitalization of $725.77 million, a PE ratio of 16.21 and a beta of 0.57. 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 company has a 50 day moving average of $17.54 and a 200-day moving average of $18.54.

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 the consensus estimate of $0.35. NB Bancorp had a return on equity of 6.04% and a net margin of 13.86%. The company had revenue of $47.39 million for 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 year.

Insider Buying and Selling

In related news, CEO Joseph P. Campanelli acquired 2,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $17.75 per share, with a total value of $35,500.00. Following the completion of the acquisition, the chief executive officer now owns 55,000 shares in the company, valued at $976,250. This trade represents a 3.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Francis Orfanello bought 5,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were purchased at an average price of $17.09 per share, for a total transaction of $85,450.00. Following the transaction, the director now directly owns 130,237 shares of the company's stock, valued at approximately $2,225,750.33. This represents a 3.99 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 7,500 shares of company stock worth $130,320. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in NB Bancorp by 4.7% during the fourth 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 period. Charles Schwab Investment Management Inc. grew its holdings in NB Bancorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 319,436 shares of the company's stock valued at $5,769,000 after purchasing an additional 4,138 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in NB Bancorp by 23.9% during the 4th quarter. JPMorgan Chase & Co. now owns 247,482 shares of the company's stock worth $4,470,000 after purchasing an additional 47,678 shares during the last quarter. Millennium Management LLC raised 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 in the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in shares of NB Bancorp by 24.2% in the 4th quarter. Hennessy Advisors Inc. now owns 205,000 shares of the company's stock valued at $3,702,000 after acquiring an additional 40,000 shares during the last quarter.

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.