Tieton Capital Management LLC Makes New $11.55 Million Investment in NB Bancorp, Inc. $NBBK

Tieton Capital Management LLC purchased a new position in shares of NB Bancorp, Inc. (NASDAQ:NBBK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 546,600 shares of the company’s stock, valued at approximately $11,550,000. NB Bancorp accounts for approximately 3.3% of Tieton Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding.

Several other hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of NB Bancorp in the second quarter valued at $70,396,000. Pertento Partners LLP lifted its position in NB Bancorp by 10.9% during the fourth quarter. Pertento Partners LLP now owns 2,343,776 shares of the company’s stock worth $46,454,000 after buying an additional 229,440 shares during the period. Vanguard Group Inc. boosted its stake in 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 buying an additional 350,899 shares during the last quarter. Geode Capital Management LLC boosted its stake in NB Bancorp by 10.3% in the 4th quarter. Geode Capital Management LLC now owns 966,662 shares of the company’s stock worth $19,162,000 after buying an additional 90,014 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in NB Bancorp by 27.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 694,982 shares of the company’s stock valued at $12,266,000 after buying an additional 148,472 shares during the period.

Wall Street Analysts Forecast Growth

NBBK has been the topic of several recent analyst reports. Piper Sandler increased their price objective on shares of NB Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods upped their price target on shares of NB Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. 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. Zacks Research upgraded shares of NB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen upgraded NB Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $25.50.

NB Bancorp Trading Down 3.7%

Shares of NBBK stock opened at $21.90 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. NB Bancorp, Inc. has a fifty-two week low of $16.83 and a fifty-two week high of $23.47. The firm’s 50 day moving average price is $21.63 and its two-hundred day moving average price is $21.20. The stock has a market cap of $959.66 million and a price-to-earnings ratio of 14.50.

NB Bancorp (NASDAQ:NBBK) last issued its earnings results on Wednesday, July 22nd. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. NB Bancorp had a net margin of 14.27% and a return on equity of 9.13%. On average, analysts anticipate that NB Bancorp, Inc. will post 2.13 EPS for the current year.

NB Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were paid a $0.07 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. NB Bancorp’s dividend payout ratio (DPR) is 18.54%.

NB Bancorp 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.