Flagship Wealth Advisors LLC Buys 34,350 Shares of NB Bancorp, Inc. $NBBK

Flagship Wealth Advisors LLC bought a new position in shares of NB Bancorp, Inc. (NASDAQ:NBBK) in the third quarter, HoldingsChannel.com reports. The firm bought 34,350 shares of the company’s stock, valued at approximately $760,000.

A number of other hedge funds also recently bought and sold shares of NBBK. BlackRock Inc. acquired a new stake in shares of NB Bancorp in the second quarter valued at about $70,396,000. Tieton Capital Management LLC acquired a new position in shares of NB Bancorp during the second quarter worth approximately $11,550,000. International Assets Investment Management LLC boosted its position in shares of NB Bancorp by 184.6% in the third quarter. International Assets Investment Management LLC now owns 372,910 shares of the company’s stock valued at $8,249,000 after acquiring an additional 241,897 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of NB Bancorp by 81.4% in the first quarter. Dimensional Fund Advisors LP now owns 522,384 shares of the company’s stock valued at $11,006,000 after acquiring an additional 234,356 shares during the period. Finally, State Street Corp grew its stake in shares of NB Bancorp by 13.8% in the second quarter. State Street Corp now owns 1,471,766 shares of the company’s stock worth $31,098,000 after acquiring an additional 178,228 shares during the last quarter.

NB Bancorp Price Performance

Shares of NASDAQ:NBBK traded up $0.07 during midday trading on Friday, reaching $22.09. 253,058 shares of the company’s stock were exchanged, compared to its average volume of 275,015. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.06. The company’s 50 day simple moving average is $22.51 and its two-hundred day simple moving average is $21.55. NB Bancorp, Inc. has a 12 month low of $17.91 and a 12 month high of $23.47. The firm has a market capitalization of $967.98 million, a PE ratio of 13.31 and a beta of 0.01.

NB Bancorp (NASDAQ:NBBK) last posted its earnings results on Thursday, October 15th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. NB Bancorp had a net margin of 14.86% and a return on equity of 9.75%. The business had revenue of $76.55 million for the quarter, compared to analysts’ expectations of $77.30 million. Equities research analysts expect that NB Bancorp, Inc. will post 2.12 earnings per share for the current fiscal year.

NB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Thursday, October 29th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 29th. NB Bancorp’s payout ratio is presently 16.87%.

Analyst Ratings Changes

NBBK has been the subject of several research analyst reports. Zacks Research cut shares of NB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Piper Sandler upped their price objective on shares of NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Wall Street Zen cut shares of NB Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Keefe, Bruyette & Woods lowered their price target on NB Bancorp from $25.00 to $24.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 27th. Finally, Weiss Ratings raised NB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, NB Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $24.67.

Insider Buying and Selling at NB Bancorp

In related news, CEO Joseph Campanelli acquired 2,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were bought at an average cost of $21.75 per share, for a total transaction of $43,500.00. Following the purchase, the chief executive officer owned 379,790 shares in the company, valued at approximately $8,260,432.50. This trade represents a 0.53% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.10% of the company’s stock.

NB Bancorp Profile

NB Bancorp, Inc is the bank holding company for Needham Bank, a community-oriented financial institution headquartered in Needham, Massachusetts. Through Needham Bank, the company provides banking services to individuals, families, businesses, nonprofit organizations and municipalities, primarily in the Greater Boston and eastern Massachusetts markets.

Its products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, commercial real estate loans, commercial and industrial lending, construction loans and consumer credit.