NB Bancorp, Inc. (NASDAQ:NBBK) Short Interest Up 18.2% in June

NB Bancorp, Inc. (NASDAQ:NBBK) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 548,400 shares, a growth of 18.2% from the May 31st total of 464,000 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily volume of 248,100 shares, the short-interest ratio is currently 2.2 days.

NB Bancorp Stock Up 0.6 %

Shares of NASDAQ NBBK traded up $0.09 during mid-day trading on Tuesday, hitting $15.22. The company had a trading volume of 301,644 shares, compared to its average volume of 414,938. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.10 and a current ratio of 1.10. NB Bancorp has a 12 month low of $13.10 and a 12 month high of $16.05. The firm’s 50-day moving average price is $14.93.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $42.13 million for the quarter, compared to the consensus estimate of $38.30 million. On average, research analysts forecast that NB Bancorp will post 0.91 EPS for the current year.

Insider Activity

In other NB Bancorp news, CFO Jean-Pierre Lapointe bought 3,095 shares of NB Bancorp stock in a transaction dated Wednesday, May 8th. The stock was bought at an average price of $15.05 per share, for a total transaction of $46,579.75. Following the completion of the acquisition, the chief financial officer now directly owns 3,124 shares of the company’s stock, valued at $47,016.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Salvatore J. Rinaldi acquired 6,900 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average cost of $14.50 per share, for a total transaction of $100,050.00. Following the completion of the acquisition, the chief operating officer now owns 21,319 shares in the company, valued at $309,125.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jean-Pierre Lapointe acquired 3,095 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average price of $15.05 per share, with a total value of $46,579.75. Following the completion of the acquisition, the chief financial officer now owns 3,124 shares of the company’s stock, valued at approximately $47,016.20. The disclosure for this purchase can be found here. Insiders acquired 25,995 shares of company stock worth $381,190 over the last quarter. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in shares of NB Bancorp in the first quarter valued at approximately $85,000. Gray Private Wealth LLC acquired a new stake in shares of NB Bancorp in the first quarter valued at approximately $145,000. Janney Montgomery Scott LLC acquired a new stake in shares of NB Bancorp in the first quarter valued at approximately $273,000. Barry Investment Advisors LLC acquired a new stake in shares of NB Bancorp in the first quarter valued at approximately $273,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of NB Bancorp in the first quarter valued at approximately $312,000.

Analyst Upgrades and Downgrades

Separately, Piper Sandler started coverage on shares of NB Bancorp in a research report on Tuesday, April 9th. They set an “overweight” rating and a $17.00 target price on the stock.

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.