Short Interest in NB Bancorp, Inc. (NASDAQ:NBBK) Drops By 18.0%

NB Bancorp, Inc. (NASDAQ:NBBK) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 1,410,000 shares, a decrease of 18.0% from the December 31st total of 1,720,000 shares. Approximately 3.7% of the shares of the company are short sold. Based on an average trading volume of 164,900 shares, the short-interest ratio is presently 8.6 days.

NB Bancorp Price Performance

Shares of NB Bancorp stock traded up $0.12 during trading on Thursday, hitting $19.20. 150,201 shares of the company’s stock traded hands, compared to its average volume of 272,974. NB Bancorp has a twelve month low of $13.26 and a twelve month high of $21.05. The company has a market cap of $820.07 million and a PE ratio of 17.94. The firm’s fifty day moving average price is $18.89 and its 200 day moving average price is $18.57. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.10 and a quick ratio of 1.10.

NB Bancorp (NASDAQ:NBBK) last posted its earnings results on Wednesday, January 22nd. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. NB Bancorp had a net margin of 13.86% and a return on equity of 6.04%. Analysts forecast that NB Bancorp will post 1.36 earnings per share for the current year.

Insider Buying and Selling at NB Bancorp

In related news, Director Hope Pascucci acquired 40,000 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were bought at an average price of $18.53 per share, for a total transaction of $741,200.00. Following the acquisition, the director now owns 40,075 shares in the company, valued at $742,589.75. This trade represents a 53,333.33 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NBBK. Resources Management Corp CT ADV bought a new stake in NB Bancorp during the 3rd quarter worth approximately $28,000. Quarry LP bought a new stake in shares of NB Bancorp during the third quarter worth $33,000. Centiva Capital LP acquired a new stake in shares of NB Bancorp in the third quarter valued at $213,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NB Bancorp during the 3rd quarter worth about $235,000. Finally, The Manufacturers Life Insurance Company bought a new stake in NB Bancorp during the 2nd quarter worth about $211,000.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their price objective on NB Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st.

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.