NB Bancorp, Inc. (NASDAQ:NBBK) Sees Large Drop in Short Interest

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director Hope Pascucci bought 40,000 shares of NB Bancorp stock in a transaction dated Friday, January 24th. The shares were purchased at an average cost of $18.53 per share, with a total value of $741,200.00. Following the completion of the acquisition, the director now owns 40,075 shares of the company's stock, 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 available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Resources Management Corp CT ADV acquired a new position in shares of NB Bancorp in the third quarter valued at approximately $28,000. Quarry LP purchased a new stake in shares of NB Bancorp during the third quarter worth $33,000. Charles Schwab Investment Management Inc. increased its position in shares of NB Bancorp by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 315,298 shares of the company's stock worth $5,852,000 after acquiring an additional 3,611 shares during the period. Great Oak Capital Partners LLC raised its stake in shares of NB Bancorp by 2.6% in the third quarter. Great Oak Capital Partners LLC now owns 194,686 shares of the company's stock valued at $3,495,000 after acquiring an additional 5,000 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in NB Bancorp by 48.5% in the third quarter. SG Americas Securities LLC now owns 26,291 shares of the company's stock valued at $488,000 after purchasing an additional 8,589 shares during the period.

NB Bancorp Stock Performance

Shares of NASDAQ:NBBK traded down $0.33 during trading on Monday, hitting $18.83. The stock had a trading volume of 344,447 shares, compared to its average volume of 282,005. NB Bancorp has a 12-month low of $13.26 and a 12-month high of $21.05. The stock has a 50-day simple moving average of $18.84 and a two-hundred day simple moving average of $18.61. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $804.23 million, a price-to-earnings ratio of 17.60 and a beta of 0.11.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. NB Bancorp had a return on equity of 6.04% and a net margin of 13.86%. On average, equities research analysts expect that NB Bancorp will post 1.39 earnings per share for the current fiscal year.

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.