Panagora Asset Management Inc. Raises Stake in NB Bancorp, Inc. $NBBK

Panagora Asset Management Inc. raised its stake in NB Bancorp, Inc. (NASDAQ:NBBK) by 24.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 181,282 shares of the company’s stock after buying an additional 36,099 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.43% of NB Bancorp worth $3,276,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in NB Bancorp by 87.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,433 shares of the company’s stock valued at $80,000 after buying an additional 2,073 shares in the last quarter. GAMMA Investing LLC grew its holdings in NB Bancorp by 1,720.1% in the 1st quarter. GAMMA Investing LLC now owns 4,987 shares of the company’s stock valued at $90,000 after buying an additional 4,713 shares in the last quarter. ProShare Advisors LLC purchased a new stake in NB Bancorp in the 4th quarter valued at $198,000. D. E. Shaw & Co. Inc. purchased a new stake in NB Bancorp in the 4th quarter valued at $212,000. Finally, State of Wyoming grew its holdings in NB Bancorp by 40.9% in the 1st quarter. State of Wyoming now owns 11,782 shares of the company’s stock valued at $213,000 after buying an additional 3,421 shares in the last quarter.

NB Bancorp Stock Performance

Shares of NB Bancorp stock opened at $18.89 on Tuesday. NB Bancorp, Inc. has a 52 week low of $15.09 and a 52 week high of $21.05. The business’s fifty day simple moving average is $18.22 and its 200-day simple moving average is $17.72. The firm has a market cap of $752.39 million, a PE ratio of 14.20 and a beta of 0.45. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.17.

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

NB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.28 annualized dividend and a yield of 1.5%. NB Bancorp’s dividend payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

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