NB Bancorp (NASDAQ:NBBK) Sees Strong Trading Volume After Better-Than-Expected Earnings

NB Bancorp, Inc. (NASDAQ:NBBK) shares saw unusually-high trading volume on Thursday following a better than expected earnings announcement. Approximately 252,556 shares traded hands during trading, an increase of 14% from the previous session’s volume of 222,381 shares.The stock last traded at $18.78 and had previously closed at $17.67.

The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. NB Bancorp had a net margin of 4.47% and a return on equity of 2.40%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their price target on NB Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of NB Bancorp by 24.2% during the third 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 period. State Street Corp lifted its holdings in shares of NB Bancorp by 16.5% during the 3rd quarter. State Street Corp now owns 994,380 shares of the company’s stock worth $18,456,000 after acquiring an additional 140,960 shares during the period. Geode Capital Management LLC boosted its position in shares of NB Bancorp by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 885,243 shares of the company’s stock worth $16,433,000 after acquiring an additional 16,270 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in NB Bancorp during the third quarter valued at approximately $6,129,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of NB Bancorp by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 315,298 shares of the company’s stock valued at $5,852,000 after purchasing an additional 3,611 shares in the last quarter.

NB Bancorp Stock Up 6.5 %

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $18.99 and a 200 day moving average price of $18.46.

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.