NB Bancorp, Inc. (NASDAQ:NBBK) Short Interest Up 154.0% in July

NB Bancorp, Inc. (NASDAQ:NBBK) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 2,450,000 shares, an increase of 154.0% from the June 30th total of 964,700 shares. Based on an average daily trading volume, of 416,800 shares, the short-interest ratio is currently 5.9 days. Currently, 5.8% of the company’s shares are short sold.

NB Bancorp Price Performance

NASDAQ NBBK traded up $0.36 on Friday, reaching $18.66. The company had a trading volume of 380,822 shares, compared to its average volume of 729,926. 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 fifty day moving average is $15.54 and its 200 day moving average is $14.62. NB Bancorp has a 52-week low of $13.10 and a 52-week high of $18.68.

NB Bancorp (NASDAQ:NBBK) last posted its earnings results on Wednesday, April 24th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $42.13 million during the quarter, compared to the consensus estimate of $38.30 million. On average, sell-side analysts predict that NB Bancorp will post 1 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler raised their price objective on NB Bancorp from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday.

Insider Activity at NB Bancorp

In other NB Bancorp news, CFO Jean-Pierre Lapointe purchased 3,095 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average cost of $15.05 per share, for a total transaction of $46,579.75. Following the acquisition, the chief financial officer now owns 3,124 shares in the company, valued at approximately $47,016.20. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Salvatore J. Rinaldi acquired 6,900 shares of the stock in a transaction dated Monday, April 29th. The stock was bought at an average price of $14.50 per share, for a total transaction of $100,050.00. Following the purchase, the chief operating officer now directly owns 21,319 shares of the company’s stock, valued at approximately $309,125.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jean-Pierre Lapointe purchased 3,095 shares of NB Bancorp stock in a transaction on Wednesday, May 8th. The stock was bought 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 directly 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 have bought a total of 10,995 shares of company stock worth $162,340 over the last quarter. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On NB Bancorp

A number of institutional investors have recently added to or reduced their stakes in NBBK. BNP Paribas Financial Markets purchased a new stake in NB Bancorp during the first quarter worth about $85,000. Gray Private Wealth LLC bought a new stake in NB Bancorp during the first quarter valued at approximately $145,000. SG Americas Securities LLC bought a new position in NB Bancorp in the second quarter valued at $267,000. Janney Montgomery Scott LLC purchased a new position in shares of NB Bancorp during the 1st quarter valued at about $273,000. Finally, Barry Investment Advisors LLC bought a new stake in shares of NB Bancorp in the 1st quarter worth approximately $273,000.

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.