Invesco Ltd. Raises Stock Holdings in NB Bancorp, Inc. $NBBK

Invesco Ltd. increased its stake in shares of NB Bancorp, Inc. (NASDAQ:NBBK) by 52.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,632 shares of the company’s stock after purchasing an additional 10,151 shares during the quarter. Invesco Ltd. owned approximately 0.07% of NB Bancorp worth $535,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Swiss National Bank lifted its stake in shares of NB Bancorp by 4.8% during the 1st quarter. Swiss National Bank now owns 78,600 shares of the company’s stock worth $1,420,000 after purchasing an additional 3,600 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 worth $38,105,000 after purchasing an additional 21,932 shares during the last quarter. Aviance Capital Partners LLC purchased a new stake in shares of NB Bancorp during the 1st quarter worth $646,000. International Assets Investment Management LLC purchased a new stake in shares of NB Bancorp during the 1st quarter worth $987,000. Finally, SummerHaven Investment Management LLC raised its stake in NB Bancorp by 1.5% in the first quarter. SummerHaven Investment Management LLC now owns 49,977 shares of the company’s stock valued at $903,000 after buying an additional 751 shares during the last quarter.

NB Bancorp Stock Down 1.5%

Shares of NBBK stock opened at $18.85 on Friday. The stock’s 50-day simple moving average is $18.34 and its 200-day simple moving average is $17.73. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $750.80 million, a PE ratio of 14.17 and a beta of 0.46. NB Bancorp, Inc. has a fifty-two week low of $15.09 and a fifty-two week high of $21.05.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.40 earnings per share 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 return on equity of 7.37% and a net margin of 15.86%. Equities analysts expect that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

NB Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price target on NB Bancorp from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $20.00.

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.