Hennessy Advisors Inc. Invests $2.60 Million in NB Bancorp, Inc. (NASDAQ:NBBK)

Hennessy Advisors Inc. bought a new position in shares of NB Bancorp, Inc. (NASDAQ:NBBK) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 190,000 shares of the company’s stock, valued at approximately $2,595,000. Hennessy Advisors Inc. owned about 0.44% of NB Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NBBK. Oppenheimer & Close LLC bought a new position in NB Bancorp in the 4th quarter valued at approximately $915,000. Lynch & Associates IN acquired a new position in shares of NB Bancorp during the first quarter worth $957,000. Stilwell Value LLC acquired a new position in NB Bancorp during the 4th quarter worth about $1,076,000. Farley Capital L.P. bought a new position in shares of NB Bancorp in the 4th quarter worth about $1,076,000. Finally, Great Oak Capital Partners LLC bought a new stake in NB Bancorp in the fourth quarter worth approximately $4,238,000.

Insider Buying and Selling at NB Bancorp

In other NB Bancorp news, CEO Joseph P. Campanelli acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was bought at an average cost of $14.59 per share, with a total value of $218,850.00. Following the acquisition, the chief executive officer now owns 45,000 shares in the company, valued at $656,550. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NB Bancorp news, COO Salvatore J. Rinaldi acquired 6,900 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were bought at an average price of $14.50 per share, for a total transaction of $100,050.00. Following the completion of the transaction, the chief operating officer now owns 21,319 shares of the company’s stock, valued at approximately $309,125.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph P. Campanelli bought 15,000 shares of NB Bancorp stock in a transaction that occurred on Friday, April 26th. The shares were acquired at an average price of $14.59 per share, with a total value of $218,850.00. Following the completion of the transaction, the chief executive officer now owns 45,000 shares of the company’s stock, valued at $656,550. The disclosure for this purchase can be found here. Insiders have acquired a total of 25,995 shares of company stock valued at $381,190 over the last three months. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Piper Sandler assumed coverage on shares of NB Bancorp in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $17.00 price objective for the company.

NB Bancorp Stock Up 0.3 %

NBBK stock traded up $0.04 during midday trading on Friday, hitting $14.80. The company’s stock had a trading volume of 442,909 shares, compared to its average volume of 366,123. NB Bancorp, Inc. has a 1 year low of $13.10 and a 1 year high of $16.05. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average is $14.85.

NB Bancorp (NASDAQ:NBBK) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $42.13 million for the quarter, compared to analysts’ expectations of $38.30 million. Analysts expect that NB Bancorp, Inc. will post 0.91 EPS for the current year.

NB Bancorp 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.