Short Interest in NB Bancorp, Inc. (NASDAQ:NBBK) Rises By 24.5%

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,220,000 shares, a growth of 24.5% from the March 15th total of 980,300 shares. Based on an average daily volume of 256,500 shares, the short-interest ratio is presently 4.8 days. Currently, 3.6% of the shares of the company are short sold.

NB Bancorp Stock Performance

Shares of NASDAQ NBBK traded down $0.25 during midday trading on Thursday, hitting $17.00. The company's stock had a trading volume of 262,575 shares, compared to its average volume of 266,685. The firm has a market capitalization of $711.33 million, a price-to-earnings ratio of 15.89 and a beta of 0.50. The stock has a fifty day moving average price of $17.88 and a 200 day moving average price of $18.60. NB Bancorp has a one year low of $14.09 and a one year high of $21.05. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.16.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. NB Bancorp had a net margin of 13.86% and a return on equity of 6.04%. The company had revenue of $47.39 million during the quarter, compared to analyst estimates of $44.50 million. On average, research analysts forecast that NB Bancorp will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling at NB Bancorp

In related news, Director Hope Pascucci purchased 40,000 shares of the firm's stock in a transaction on Friday, January 24th. The stock was purchased at an average cost of $18.53 per share, with a total value of $741,200.00. Following the completion of the purchase, the director now owns 40,075 shares in the company, valued at approximately $742,589.75. This trade represents a 53,333.33 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph P. Campanelli acquired 2,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $17.75 per share, for a total transaction of $35,500.00. Following the completion of the purchase, the chief executive officer now directly owns 55,000 shares of the company's stock, valued at approximately $976,250. This represents a 3.77 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 43,400 shares of company stock valued at $803,035 in the last quarter. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp lifted its position in NB Bancorp by 16.5% in the 3rd quarter. State Street Corp now owns 994,380 shares of the company's stock valued at $18,456,000 after acquiring an additional 140,960 shares in the last quarter. Barclays PLC grew its position in shares of NB Bancorp by 73.0% during the 3rd quarter. Barclays PLC now owns 81,114 shares of the company's stock valued at $1,506,000 after acquiring an additional 34,235 shares during the period. Geode Capital Management LLC grew its holdings in NB Bancorp by 1.9% during the third quarter. Geode Capital Management LLC now owns 885,243 shares of the company's stock valued at $16,433,000 after purchasing an additional 16,270 shares during the period. JPMorgan Chase & Co. lifted its holdings in NB Bancorp by 119.5% during the third quarter. JPMorgan Chase & Co. now owns 199,804 shares of the company's stock valued at $3,708,000 after purchasing an additional 108,774 shares in the last quarter. Finally, Hennessy Advisors Inc. boosted its holdings in NB Bancorp by 24.2% in the 4th quarter. Hennessy Advisors Inc. now owns 205,000 shares of the company's stock worth $3,702,000 after buying an additional 40,000 shares during the period.

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.