Short Interest in NB Bancorp, Inc. (NASDAQ:NBBK) Grows By 154.0%

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

NB Bancorp Stock Up 2.0 %

NBBK traded up $0.36 during trading on Friday, hitting $18.66. 380,822 shares of the stock were exchanged, compared to its average volume of 729,926. NB Bancorp has a 1-year low of $13.10 and a 1-year high of $18.68. The stock has a fifty day moving average price of $15.54 and a two-hundred day moving average price of $14.62. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.08.

NB Bancorp (NASDAQ:NBBK) last announced its earnings results on Wednesday, April 24th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $42.13 million during the quarter, compared to analysts’ expectations of $38.30 million. As a group, sell-side analysts predict that NB Bancorp will post 1 earnings per share for the current year.

Insider Transactions at NB Bancorp

In other NB Bancorp news, COO Salvatore J. Rinaldi bought 6,900 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were acquired at an average price of $14.50 per share, with a total value of $100,050.00. Following the transaction, the chief operating officer now owns 21,319 shares of the company’s stock, valued at $309,125.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other NB Bancorp news, COO Salvatore J. Rinaldi bought 6,900 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were acquired at an average price of $14.50 per share, with a total value of $100,050.00. Following the transaction, the chief operating officer now owns 21,319 shares of the company’s stock, valued at $309,125.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jean-Pierre Lapointe purchased 3,095 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average cost of $15.05 per share, for a total transaction of $46,579.75. Following the transaction, the chief financial officer now owns 3,124 shares of the company’s stock, valued at $47,016.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 10,995 shares of company stock valued at $162,340. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in shares of NB Bancorp in the 1st quarter valued at approximately $85,000. Gray Private Wealth LLC purchased a new stake in shares of NB Bancorp in the first quarter valued at approximately $145,000. Oppenheimer & Close LLC boosted its stake in shares of NB Bancorp by 22.1% in the first quarter. Oppenheimer & Close LLC now owns 82,999 shares of the company’s stock valued at $1,134,000 after buying an additional 15,000 shares in the last quarter. SG Americas Securities LLC purchased a new stake in NB Bancorp during the second quarter worth $267,000. Finally, Janney Montgomery Scott LLC purchased a new stake in NB Bancorp during the first quarter worth $273,000.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price target on NB Bancorp from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday.

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.