Rhumbline Advisers Sells 26,872 Shares of NB Bancorp, Inc. $NBBK

Rhumbline Advisers cut its holdings in NB Bancorp, Inc. (NASDAQ:NBBK) by 34.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,805 shares of the company’s stock after selling 26,872 shares during the quarter. Rhumbline Advisers owned about 0.13% of NB Bancorp worth $918,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aviance Capital Partners LLC bought a new stake in NB Bancorp in the first quarter valued at about $646,000. Piper Sandler & CO. bought a new stake in NB Bancorp in the first quarter valued at about $716,000. Ameriprise Financial Inc. increased its holdings in NB Bancorp by 79.5% in the fourth quarter. Ameriprise Financial Inc. now owns 79,500 shares of the company’s stock valued at $1,436,000 after purchasing an additional 35,200 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in NB Bancorp by 34.9% in the fourth quarter. Nuveen Asset Management LLC now owns 99,384 shares of the company’s stock valued at $1,795,000 after purchasing an additional 25,690 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in NB Bancorp by 8.0% in the first quarter. American Century Companies Inc. now owns 25,697 shares of the company’s stock valued at $464,000 after purchasing an additional 1,903 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased 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 investment analyst has rated the stock with a Buy rating, According to MarketBeat, NB Bancorp currently has an average rating of “Buy” and a consensus price target of $20.00.

NB Bancorp Stock Performance

Shares of NBBK opened at $18.45 on Friday. The firm has a 50-day moving average of $18.33 and a 200-day moving average of $17.69. NB Bancorp, Inc. has a one year low of $15.09 and a one year high of $21.05. The company has a market cap of $734.86 million, a PE ratio of 13.87 and a beta of 0.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.10 and a quick ratio of 1.10.

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

NB Bancorp Dividend Announcement

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

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.