NB Bancorp (NASDAQ:NBBK) Sees Large Volume Increase Following Better-Than-Expected Earnings

NB Bancorp, Inc. (NASDAQ:NBBK) saw unusually-high trading volume on Thursday following a better than expected earnings announcement. Approximately 252,556 shares were traded during trading, an increase of 14% from the previous session’s volume of 222,381 shares.The stock last traded at $18.78 and had previously closed at $17.67.

The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. NB Bancorp had a return on equity of 6.04% and a net margin of 13.86%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On NB Bancorp

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in NB Bancorp by 356.1% in the 2nd quarter. Renaissance Technologies LLC now owns 70,700 shares of the company’s stock worth $1,066,000 after buying an additional 55,200 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in NB Bancorp in the second quarter valued at about $211,000. SG Americas Securities LLC increased its position in NB Bancorp by 48.5% in the 3rd quarter. SG Americas Securities LLC now owns 26,291 shares of the company’s stock worth $488,000 after purchasing an additional 8,589 shares during the last quarter. Great Oak Capital Partners LLC raised its stake in shares of NB Bancorp by 2.6% during the 3rd quarter. Great Oak Capital Partners LLC now owns 194,686 shares of the company’s stock worth $3,495,000 after purchasing an additional 5,000 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of NB Bancorp by 1,756.0% during the 3rd quarter. International Assets Investment Management LLC now owns 128,064 shares of the company’s stock valued at $2,377,000 after buying an additional 121,164 shares during the last quarter.

NB Bancorp Trading Up 3.3 %

The company has a 50 day moving average of $18.95 and a 200 day moving average of $18.45. The firm has a market cap of $811.92 million and a P/E ratio of 17.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.10 and a current ratio of 1.10.

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.