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

NB Bancorp, Inc. (NASDAQ:NBBK) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 1,410,000 shares, a drop of 18.0% from the December 15th total of 1,720,000 shares. Based on an average daily 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 short sold.

NB Bancorp Stock Performance

NB Bancorp stock opened at $17.60 on Friday. NB Bancorp has a 52 week low of $13.26 and a 52 week high of $21.05. The company’s 50 day moving average price is $19.27 and its two-hundred day moving average price 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.

Institutional Investors Weigh In On NB Bancorp

A number of hedge funds have recently modified their holdings of NBBK. Bank of New York Mellon Corp bought a new stake in shares of NB Bancorp in the 2nd quarter worth approximately $1,820,000. Rhumbline Advisers bought a new stake in shares of NB Bancorp in the 2nd quarter worth approximately $817,000. Acadian Asset Management LLC bought a new stake in shares of NB Bancorp in the 2nd quarter worth approximately $95,000. Renaissance Technologies LLC raised its holdings in shares of 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 purchasing an additional 55,200 shares during the period. Finally, Prospector Partners LLC bought a new stake in shares of NB Bancorp in the 2nd quarter worth approximately $3,653,000.

Analyst Ratings Changes

Separately, Piper Sandler lifted their target price 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.

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.