Short Interest in NB Bancorp, Inc. (NASDAQ:NBBK) Declines By 17.7%

NB Bancorp, Inc. (NASDAQ:NBBK) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 913,400 shares, a drop of 17.7% from the February 13th total of 1,110,000 shares. Based on an average daily trading volume, of 227,700 shares, the days-to-cover ratio is currently 4.0 days. Currently, 2.4% of the company’s stock are sold short.

NB Bancorp Stock Performance

Shares of NASDAQ:NBBK traded up $0.01 during mid-day trading on Wednesday, reaching $18.79. 230,528 shares of the company traded hands, compared to its average volume of 253,567. The company’s 50 day moving average price is $18.63 and its 200-day moving average price is $18.81. The firm has a market cap of $786.23 million, a PE ratio of 17.56 and a beta of 0.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.10 and a quick ratio of 1.10. NB Bancorp has a 52 week low of $13.26 and a 52 week high of $21.05.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. NB Bancorp had a return on equity of 6.04% and a net margin of 13.86%. On average, equities analysts expect that NB Bancorp will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli acquired 2,000 shares of NB Bancorp stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $17.75 per share, for a total transaction of $35,500.00. Following the acquisition, the chief executive officer now owns 55,000 shares of the company’s stock, valued at $976,250. This represents a 3.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Hope Pascucci acquired 40,000 shares of NB Bancorp stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average price of $18.53 per share, with a total value of $741,200.00. Following the completion of the acquisition, the director now directly owns 40,075 shares in the company, valued at $742,589.75. This represents a 53,333.33 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 43,400 shares of company stock valued at $803,035. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in NB Bancorp by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 315,298 shares of the company’s stock worth $5,852,000 after purchasing an additional 3,611 shares during the period. FMR LLC boosted its stake in NB Bancorp by 17,265.9% in the 3rd quarter. FMR LLC now owns 230,445 shares of the company’s stock worth $4,277,000 after purchasing an additional 229,118 shares during the period. BNP Paribas Financial Markets boosted its stake in NB Bancorp by 78.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 76,319 shares of the company’s stock worth $1,416,000 after purchasing an additional 33,477 shares during the period. MetLife Investment Management LLC boosted its stake in NB Bancorp by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 22,958 shares of the company’s stock worth $426,000 after purchasing an additional 12,936 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in NB Bancorp in the 3rd quarter worth approximately $235,000.

NB Bancorp Company Profile

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.