132,258 Shares in NB Bancorp, Inc. $NBBK Purchased by Nuveen LLC

Nuveen LLC bought a new position in NB Bancorp, Inc. (NASDAQ:NBBK) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 132,258 shares of the company’s stock, valued at approximately $2,390,000. Nuveen LLC owned approximately 0.32% of NB Bancorp at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NBBK. Wells Fargo & Company MN boosted its stake in shares of NB Bancorp by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 22,852 shares of the company’s stock valued at $413,000 after purchasing an additional 4,977 shares in the last quarter. Invesco Ltd. raised its holdings in shares of NB Bancorp by 8.0% in the fourth quarter. Invesco Ltd. now owns 19,481 shares of the company’s stock worth $352,000 after buying an additional 1,446 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of NB Bancorp in the fourth quarter worth $471,000. MetLife Investment Management LLC raised its holdings in shares of NB Bancorp by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 24,251 shares of the company’s stock worth $438,000 after buying an additional 1,293 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of NB Bancorp by 87.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,433 shares of the company’s stock worth $80,000 after purchasing an additional 2,073 shares during the last quarter.

NB Bancorp Price Performance

NB Bancorp stock opened at $18.89 on Friday. The company’s 50 day simple moving average is $18.18 and its 200-day simple moving average is $17.74. The company has a market capitalization of $752.39 million, a price-to-earnings ratio of 14.20 and a beta of 0.44. NB Bancorp, Inc. has a 1 year low of $15.09 and a 1 year high of $21.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10.

NB Bancorp (NASDAQ:NBBK) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $51.19 million for the quarter. NB Bancorp had a net margin of 15.86% and a return on equity of 7.37%. As a group, equities research analysts expect that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

NB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were issued a $0.07 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. NB Bancorp’s payout ratio is 21.05%.

Analysts Set New Price Targets

Separately, Piper Sandler raised their target price on shares of NB Bancorp from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, NB Bancorp currently has a consensus rating of “Buy” and an average target price of $20.00.

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.