AltraVue Capital LLC Takes Position in NB Bancorp, Inc. $NBBK

AltraVue Capital LLC purchased a new position in shares of NB Bancorp, Inc. (NASDAQ:NBBK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 693,000 shares of the company’s stock, valued at approximately $13,735,000. NB Bancorp makes up 1.1% of AltraVue Capital LLC’s portfolio, making the stock its 25th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in NB Bancorp by 75.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,286 shares of the company’s stock worth $25,000 after acquiring an additional 553 shares in the last quarter. AFG Fiduciary Services Limited Partnership increased its stake in NB Bancorp by 9.7% in the fourth quarter. AFG Fiduciary Services Limited Partnership now owns 10,970 shares of the company’s stock valued at $214,000 after purchasing an additional 970 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NB Bancorp by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,127 shares of the company’s stock valued at $418,000 after purchasing an additional 975 shares during the period. Legal & General Group Plc increased its stake in NB Bancorp by 3.7% in the second quarter. Legal & General Group Plc now owns 62,014 shares of the company’s stock valued at $1,108,000 after purchasing an additional 2,237 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in NB Bancorp by 8.3% in the second quarter. Rafferty Asset Management LLC now owns 35,629 shares of the company’s stock valued at $636,000 after purchasing an additional 2,720 shares during the period.

Insider Buying and Selling

In other news, CEO Joseph P. Campanelli acquired 3,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $19.18 per share, with a total value of $57,540.00. Following the completion of the transaction, the chief executive officer directly owned 377,790 shares in the company, valued at approximately $7,246,012.20. This represents a 0.80% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hope Pascucci acquired 20,000 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was purchased at an average cost of $19.46 per share, with a total value of $389,200.00. Following the transaction, the director owned 142,402 shares of the company’s stock, valued at approximately $2,771,142.92. The trade was a 16.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 29,000 shares of company stock valued at $566,185. Company insiders own 5.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NBBK. Zacks Research lowered shares of NB Bancorp from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Weiss Ratings restated a “hold (c)” rating on shares of NB Bancorp in a research note on Thursday, April 2nd. Finally, Piper Sandler dropped their price objective on shares of NB Bancorp from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.00.

NB Bancorp Stock Up 0.1%

NBBK stock opened at $19.93 on Friday. The company has a market cap of $891.07 million, a P/E ratio of 14.55 and a beta of 0.06. NB Bancorp, Inc. has a 52 week low of $15.44 and a 52 week high of $22.86. The company’s 50-day moving average price is $20.62 and its 200 day moving average price is $20.69. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.16). NB Bancorp had a net margin of 13.81% and a return on equity of 8.57%. The business had revenue of $69.38 million during the quarter, compared to analysts’ expectations of $70.83 million. On average, research analysts expect that NB Bancorp, Inc. will post 2.02 earnings per share for the current fiscal year.

NB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, May 6th. NB Bancorp’s payout ratio is currently 20.44%.

NB Bancorp Company Profile

NB Bancorp, Inc (NASDAQ: NBBK) is the bank holding company for NB Bank, N.A., a full-service community bank headquartered in Newburyport, Massachusetts. Through a network of branches across Northeast Massachusetts and southern New Hampshire, the company offers deposit and lending services tailored to individuals and small- to medium-sized businesses.

The company’s core product lineup includes checking and savings accounts, money market deposits and certificates of deposit, along with residential mortgage loans, home equity lines of credit and commercial lending solutions.