NB Bancorp, Inc. (NASDAQ:NBBK) Sees Significant Growth in Short Interest

NB Bancorp, Inc. (NASDAQ:NBBK) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 548,400 shares, a growth of 18.2% from the May 31st total of 464,000 shares. Based on an average trading volume of 248,100 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.3% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler started coverage on NB Bancorp in a research report on Tuesday, April 9th. They set an “overweight” rating and a $17.00 price objective for the company.

Insider Transactions at NB Bancorp

In other news, CFO Jean-Pierre Lapointe purchased 3,095 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average price of $15.05 per share, with a total value of $46,579.75. Following the purchase, the chief financial officer now directly owns 3,124 shares of the company’s stock, valued at $47,016.20. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Jean-Pierre Lapointe acquired 3,095 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average cost of $15.05 per share, for a total transaction of $46,579.75. Following the transaction, the chief financial officer now directly owns 3,124 shares of the company’s stock, valued at approximately $47,016.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joseph P. Campanelli acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were bought at an average price of $14.59 per share, with a total value of $218,850.00. Following the completion of the transaction, the chief executive officer now directly owns 45,000 shares in the company, valued at $656,550. The disclosure for this purchase can be found here. Insiders have bought 25,995 shares of company stock valued at $381,190 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. acquired a new position in NB Bancorp in the 1st quarter valued at $27,058,000. Wellington Management Group LLP acquired a new position in NB Bancorp in the 4th quarter valued at $7,232,000. Great Oak Capital Partners LLC raised its holdings in NB Bancorp by 34.1% in the 1st quarter. Great Oak Capital Partners LLC now owns 419,241 shares of the company’s stock valued at $5,727,000 after acquiring an additional 106,611 shares during the last quarter. EJF Capital LLC raised its holdings in NB Bancorp by 90.5% in the 1st quarter. EJF Capital LLC now owns 390,617 shares of the company’s stock valued at $5,336,000 after acquiring an additional 185,617 shares during the last quarter. Finally, Stieven Capital Advisors L.P. acquired a new position in NB Bancorp in the 1st quarter valued at $5,037,000.

NB Bancorp Trading Up 0.6 %

Shares of NB Bancorp stock traded up $0.09 during trading on Tuesday, hitting $15.22. 301,644 shares of the company were exchanged, compared to its average volume of 414,938. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.10 and a quick ratio of 1.10. NB Bancorp has a fifty-two week low of $13.10 and a fifty-two week high of $16.05. The stock has a 50 day moving average of $14.93.

NB Bancorp (NASDAQ:NBBK) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $42.13 million during the quarter, compared to analyst estimates of $38.30 million. Sell-side analysts anticipate that NB Bancorp will post 0.91 EPS for the current fiscal year.

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.