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

NB Bancorp, Inc. (NASDAQ:NBBK) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 548,400 shares, an increase 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. Approximately 1.3% of the company’s stock are sold short.

Insiders Place Their Bets

In related news, CFO Jean-Pierre Lapointe bought 3,095 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $15.05 per share, with a total value of $46,579.75. Following the transaction, the chief financial officer now owns 3,124 shares in the company, valued at $47,016.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Joseph P. Campanelli purchased 15,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were acquired at an average price of $14.59 per share, for a total transaction of $218,850.00. Following the purchase, the chief executive officer now owns 45,000 shares in the company, valued at $656,550. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jean-Pierre Lapointe purchased 3,095 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average price of $15.05 per share, for a total transaction of $46,579.75. Following the purchase, the chief financial officer now owns 3,124 shares in the company, valued at approximately $47,016.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 25,995 shares of company stock valued at $381,190. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of NB Bancorp

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. purchased a new stake in shares of NB Bancorp in the first quarter worth about $27,058,000. Wellington Management Group LLP purchased a new stake in shares of NB Bancorp in the fourth quarter worth about $7,232,000. Great Oak Capital Partners LLC boosted its stake in shares of NB Bancorp by 34.1% in the first quarter. Great Oak Capital Partners LLC now owns 419,241 shares of the company’s stock worth $5,727,000 after buying an additional 106,611 shares during the last quarter. EJF Capital LLC boosted its stake in shares of NB Bancorp by 90.5% in the first quarter. EJF Capital LLC now owns 390,617 shares of the company’s stock worth $5,336,000 after buying an additional 185,617 shares during the last quarter. Finally, Stieven Capital Advisors L.P. purchased a new stake in shares of NB Bancorp in the first quarter worth about $5,037,000.

Analysts Set New Price Targets

Separately, Piper Sandler assumed coverage on NB Bancorp in a research note on Tuesday, April 9th. They set an “overweight” rating and a $17.00 price target on the stock.

NB Bancorp Stock Up 0.6 %

NB Bancorp stock traded up $0.09 during trading hours on Tuesday, hitting $15.22. 301,644 shares of the stock traded hands, compared to its average volume of 414,938. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.10 and a current ratio of 1.10. The firm’s 50 day moving average price is $14.93. NB Bancorp has a 1 year low of $13.10 and a 1 year high of $16.05.

NB Bancorp (NASDAQ:NBBK) last issued its earnings results on Wednesday, April 24th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $42.13 million during the quarter, compared to analysts’ expectations of $38.30 million. Equities analysts anticipate that NB Bancorp will post 0.91 EPS for the current 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.