NB Bancorp (NASDAQ:NBBK) Sees Large Volume Increase – Time to Buy?

NB Bancorp, Inc. (NASDAQ:NBBK) shares saw unusually-strong trading volume on Friday . Approximately 246,115 shares were traded during trading, a decline of 9% from the previous session’s volume of 271,565 shares.The stock last traded at $18.20 and had previously closed at $18.60.

NB Bancorp Price Performance

The company has a market capitalization of $782.16 million, a PE ratio of 17.11 and a beta of 0.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.10 and a quick ratio of 1.10. The company’s 50 day simple moving average is $18.56 and its 200 day simple moving average is $18.82.

NB Bancorp (NASDAQ:NBBK) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. NB Bancorp had a return on equity of 6.04% and a net margin of 13.86%. As a group, sell-side analysts predict that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

Insider Activity

In related news, Director Hope Pascucci bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were acquired at an average cost 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 represents a 53,333.33 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On NB Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC acquired a new position in NB Bancorp in the third quarter worth about $6,129,000. Wellington Management Group LLP lifted its holdings in shares of NB Bancorp by 24.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,493,601 shares of the company’s stock worth $27,721,000 after purchasing an additional 290,818 shares during the last quarter. FMR LLC increased its holdings in shares of NB Bancorp by 17,265.9% in the 3rd quarter. FMR LLC now owns 230,445 shares of the company’s stock worth $4,277,000 after acquiring an additional 229,118 shares during the period. State Street Corp boosted its position in shares of NB Bancorp by 16.5% during the third quarter. State Street Corp now owns 994,380 shares of the company’s stock worth $18,456,000 after buying an additional 140,960 shares during the period. Finally, Millennium Management LLC grew its stake in shares of NB Bancorp by 143.6% in the fourth quarter. Millennium Management LLC now owns 224,170 shares of the company’s stock worth $4,049,000 after purchasing an additional 132,130 shares in the last quarter.

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.