Sei Investments Co. Buys 158,397 Shares of NB Bancorp, Inc. $NBBK

Sei Investments Co. boosted its stake in shares of NB Bancorp, Inc. (NASDAQ:NBBK) by 110.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 302,181 shares of the company’s stock after buying an additional 158,397 shares during the quarter. Sei Investments Co.’s holdings in NB Bancorp were worth $6,367,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. AltraVue Capital LLC purchased a new position in NB Bancorp during the fourth quarter worth $13,735,000. Tieton Capital Management LLC purchased a new stake in shares of NB Bancorp in the fourth quarter valued at $10,404,000. Vanguard Group Inc. lifted its holdings in shares of NB Bancorp by 18.0% in the 4th quarter. Vanguard Group Inc. now owns 2,301,034 shares of the company’s stock worth $45,606,000 after acquiring an additional 350,899 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of NB Bancorp in the 4th quarter worth about $5,709,000. Finally, UBS Group AG lifted its holdings in shares of NB Bancorp by 264.4% in the 3rd quarter. UBS Group AG now owns 378,353 shares of the company’s stock worth $6,678,000 after acquiring an additional 274,511 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NBBK shares. Wall Street Zen upgraded shares of NB Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised shares of NB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Piper Sandler boosted their target price on NB Bancorp from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Zacks Research raised NB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods increased their price target on NB Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $25.50.

Insider Buying and Selling

In related news, CEO Joseph P. Campanelli bought 3,000 shares of NB Bancorp stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $19.18 per share, with a total value of $57,540.00. Following the completion of the transaction, the chief executive officer owned 377,790 shares in the company, valued at $7,246,012.20. The trade was a 0.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.10% of the stock is owned by corporate insiders.

NB Bancorp Stock Up 0.5%

Shares of NBBK opened at $23.12 on Tuesday. The firm has a market capitalization of $1.03 billion and a P/E ratio of 15.31. NB Bancorp, Inc. has a 12-month low of $16.83 and a 12-month high of $23.47. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average price of $20.96 and a 200-day moving average price of $21.00.

NB Bancorp (NASDAQ:NBBK) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The firm had revenue of $74.70 million for the quarter, compared to analysts’ expectations of $72.74 million. NB Bancorp had a net margin of 14.27% and a return on equity of 9.21%. Equities research analysts expect that NB Bancorp, Inc. will post 2.13 earnings per share for the current year.

NB Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. NB Bancorp’s dividend payout ratio is currently 18.54%.

About NB Bancorp

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.