Los Angeles Capital Management LLC Makes New Investment in NB Bancorp, Inc. $NBBK

Los Angeles Capital Management LLC acquired a new stake in NB Bancorp, Inc. (NASDAQ:NBBK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 38,457 shares of the company’s stock, valued at approximately $687,000. Los Angeles Capital Management LLC owned about 0.09% of NB Bancorp as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NBBK. Quarry LP acquired a new position in NB Bancorp in the first quarter valued at approximately $26,000. Public Employees Retirement System of Ohio purchased a new stake in shares of NB Bancorp during the 2nd quarter worth approximately $193,000. State of Wyoming lifted its position in shares of NB Bancorp by 40.9% during the 1st quarter. State of Wyoming now owns 11,782 shares of the company’s stock worth $213,000 after buying an additional 3,421 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of NB Bancorp in the 2nd quarter valued at $213,000. Finally, AQR Capital Management LLC purchased a new position in shares of NB Bancorp in the 1st quarter valued at $253,000.

Insider Buying and Selling at NB Bancorp

In other news, Director Hope Pascucci acquired 4,688 shares of the stock in a transaction that occurred on Tuesday, October 28th. The shares were purchased at an average cost of $18.07 per share, for a total transaction of $84,712.16. Following the transaction, the director directly owned 120,000 shares in the company, valued at approximately $2,168,400. This represents a 4.07% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NBBK has been the subject of a number of research reports. Zacks Research raised shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Weiss Ratings upgraded NB Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Piper Sandler upped their target price on NB Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods upgraded NB Bancorp to a “hold” rating in a research note on Sunday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

NB Bancorp Price Performance

Shares of NBBK opened at $19.29 on Friday. NB Bancorp, Inc. has a fifty-two week low of $15.09 and a fifty-two week high of $21.05. The company has a market capitalization of $768.32 million, a price-to-earnings ratio of 12.45 and a beta of 0.37. The firm has a 50-day simple moving average of $18.08 and a 200-day simple moving average of $17.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.10 and a current ratio of 1.07.

NB Bancorp (NASDAQ:NBBK) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. NB Bancorp had a return on equity of 7.79% and a net margin of 17.59%.The firm had revenue of $51.73 million for the quarter, compared to analysts’ expectations of $52.40 million. On average, equities research analysts anticipate that NB Bancorp, Inc. will post 1.39 earnings per share for the current year.

NB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 5th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, November 5th. NB Bancorp’s dividend payout ratio is 18.06%.

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.