EJF Capital LLC Buys 97,867 Shares of NB Bancorp, Inc. $NBBK

EJF Capital LLC boosted its stake in shares of NB Bancorp, Inc. (NASDAQ:NBBK) by 139.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 167,830 shares of the company’s stock after purchasing an additional 97,867 shares during the period. NB Bancorp comprises 2.4% of EJF Capital LLC’s portfolio, making the stock its 13th largest holding. EJF Capital LLC’s holdings in NB Bancorp were worth $2,997,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of NB Bancorp by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,108,757 shares of the company’s stock valued at $38,105,000 after buying an additional 21,932 shares during the period. Swiss National Bank increased its position in NB Bancorp by 4.8% during the first quarter. Swiss National Bank now owns 78,600 shares of the company’s stock valued at $1,420,000 after acquiring an additional 3,600 shares during the last quarter. Invesco Ltd. increased its position in NB Bancorp by 52.1% during the first quarter. Invesco Ltd. now owns 29,632 shares of the company’s stock valued at $535,000 after acquiring an additional 10,151 shares during the last quarter. Nuveen LLC bought a new position in NB Bancorp in the first quarter valued at about $2,390,000. Finally, American Century Companies Inc. boosted its position in NB Bancorp by 8.0% in the first quarter. American Century Companies Inc. now owns 25,697 shares of the company’s stock worth $464,000 after purchasing an additional 1,903 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NBBK shares. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price target (up previously from $22.00) on shares of NB Bancorp in a research report on Thursday, November 20th. Weiss Ratings upgraded shares of NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Zacks Research upgraded shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods upgraded shares of NB Bancorp to a “hold” rating in a research note on Sunday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Insider Activity

In related news, Director Hope Pascucci bought 4,688 shares of the stock in a transaction dated Tuesday, October 28th. The shares were purchased at an average price of $18.07 per share, with a total value of $84,712.16. Following the completion of the acquisition, the director owned 120,000 shares of the company’s stock, valued at $2,168,400. This represents a 4.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by insiders.

NB Bancorp Stock Performance

Shares of NASDAQ NBBK opened at $21.06 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.07 and a quick ratio of 1.07. NB Bancorp, Inc. has a 1 year low of $15.09 and a 1 year high of $21.18. The firm has a fifty day moving average price of $18.71 and a 200-day moving average price of $18.18. The stock has a market cap of $838.82 million, a PE ratio of 13.59 and a beta of 0.32.

NB Bancorp (NASDAQ:NBBK) last issued its earnings results on Wednesday, October 22nd. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. The company had revenue of $51.73 million during the quarter, compared to the consensus estimate of $52.40 million. NB Bancorp had a net margin of 17.59% and a return on equity of 7.79%. Equities analysts anticipate that NB Bancorp, Inc. will post 1.39 earnings per share for the current fiscal year.

NB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 5th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, November 5th. NB Bancorp’s dividend payout ratio (DPR) is 18.06%.

NB Bancorp 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.