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

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 1,410,000 shares, a decrease of 18.0% from the December 15th total of 1,720,000 shares. Currently, 3.7% of the company's shares are sold short. Based on an average daily trading volume, of 164,900 shares, the days-to-cover ratio is currently 8.6 days.

Hedge Funds Weigh In On NB Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Hennessy Advisors Inc. lifted its stake in NB Bancorp by 24.2% during the fourth quarter. Hennessy Advisors Inc. now owns 205,000 shares of the company's stock worth $3,702,000 after purchasing an additional 40,000 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of NB Bancorp by 119.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 199,804 shares of the company's stock valued at $3,708,000 after buying an additional 108,774 shares during the period. Barclays PLC lifted its stake in NB Bancorp by 73.0% during the 3rd quarter. Barclays PLC now owns 81,114 shares of the company's stock worth $1,506,000 after acquiring an additional 34,235 shares in the last quarter. Geode Capital Management LLC boosted its holdings in NB Bancorp by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 885,243 shares of the company's stock valued at $16,433,000 after acquiring an additional 16,270 shares during the period. Finally, Resources Management Corp CT ADV acquired a new position in NB Bancorp in the 3rd quarter valued at about $28,000.

NB Bancorp Price Performance

NBBK stock traded down $0.02 during mid-day trading on Friday, hitting $17.58. 106,723 shares of the company were exchanged, compared to its average volume of 219,763. NB Bancorp has a 12-month low of $13.26 and a 12-month high of $21.05. The business has a fifty day simple moving average of $19.27 and a 200-day simple moving average of $18.37. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.16.

Analyst Upgrades and Downgrades

Separately, Piper Sandler raised their price objective on shares of NB Bancorp from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st.

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.