NB Bancorp, Inc. (NASDAQ:NBBK) Sees Large Decrease in Short Interest

NB Bancorp, Inc. (NASDAQ:NBBK) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 1,410,000 shares, a decline of 18.0% from the December 15th total of 1,720,000 shares. Based on an average trading volume of 164,900 shares, the days-to-cover ratio is presently 8.6 days. Currently, 3.7% of the shares of the company are sold short.

Institutional Investors Weigh In On NB Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of NBBK. Resources Management Corp CT ADV purchased a new position in shares of NB Bancorp during the 3rd quarter valued at $28,000. Quarry LP purchased a new position in shares of NB Bancorp during the 3rd quarter valued at $33,000. Acadian Asset Management LLC purchased a new position in shares of NB Bancorp during the 2nd quarter valued at $95,000. The Manufacturers Life Insurance Company purchased a new position in shares of NB Bancorp during the 2nd quarter valued at $211,000. Finally, Centiva Capital LP purchased a new position in shares of NB Bancorp during the 3rd quarter valued at $213,000.

NB Bancorp Stock Performance

Shares of NBBK stock opened at $17.60 on Friday. The company’s fifty day simple moving average is $19.27 and its two-hundred day simple moving average is $18.37. 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 1 year low of $13.26 and a 1 year high of $21.05.

Analyst Ratings Changes

Separately, Piper Sandler boosted their target price on shares of NB Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, October 31st.

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.