Rhumbline Advisers Makes New Investment in NB Bancorp, Inc. (NASDAQ:NBBK)

Rhumbline Advisers bought a new position in shares of NB Bancorp, Inc. (NASDAQ:NBBK) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 54,169 shares of the company’s stock, valued at approximately $817,000.

Several other hedge funds have also recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in NB Bancorp during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new stake in shares of NB Bancorp in the second quarter valued at approximately $104,000. Panagora Asset Management Inc. acquired a new stake in shares of NB Bancorp in the second quarter valued at approximately $1,584,000. Bank of New York Mellon Corp acquired a new stake in shares of NB Bancorp in the second quarter valued at approximately $1,820,000. Finally, SG Americas Securities LLC acquired a new stake in shares of NB Bancorp in the second quarter valued at approximately $267,000.

NB Bancorp Stock Up 1.0 %

NASDAQ NBBK opened at $18.55 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.08. NB Bancorp, Inc. has a 12-month low of $13.10 and a 12-month high of $19.27. The firm’s 50 day moving average is $18.08 and its 200-day moving average is $15.79.

NB Bancorp (NASDAQ:NBBK) last released its earnings results on Wednesday, July 24th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. NB Bancorp had a net margin of 4.73% and a return on equity of 2.04%. The business had revenue of $41.70 million during the quarter, compared to analysts’ expectations of $41.50 million. Equities research analysts predict that NB Bancorp, Inc. will post 1 EPS for the current fiscal year.

Insider Activity at NB Bancorp

In other news, CEO Joseph P. Campanelli bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $17.49 per share, with a total value of $87,450.00. Following the completion of the purchase, the chief executive officer now owns 50,000 shares of the company’s stock, valued at $874,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Joseph P. Campanelli acquired 3,000 shares of NB Bancorp stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $16.44 per share, with a total value of $49,320.00. Following the completion of the transaction, the chief executive officer now directly owns 53,000 shares in the company, valued at approximately $871,320. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Joseph P. Campanelli acquired 5,000 shares of NB Bancorp stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $17.49 per share, with a total value of $87,450.00. Following the completion of the transaction, the chief executive officer now owns 50,000 shares of the company’s stock, valued at $874,500. The disclosure for this purchase can be found here. Over the last three months, insiders bought 11,500 shares of company stock valued at $198,675. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their price objective on shares of NB Bancorp from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, July 25th.

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.