NB Bancorp (NASDAQ:NBBK) Sees Strong Trading Volume Following Earnings Beat

NB Bancorp, Inc. (NASDAQ:NBBK) shares saw unusually-strong trading volume on Thursday after the company announced better than expected quarterly earnings. 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 2.40% and a net margin of 4.47%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of NB Bancorp

Several large investors have recently made changes to their positions in NBBK. Resources Management Corp CT ADV bought a new stake in shares of NB Bancorp during the third quarter worth $28,000. Quarry LP acquired a new position in shares of NB Bancorp during the third quarter valued at $33,000. The Manufacturers Life Insurance Company acquired a new position in shares of NB Bancorp during the second quarter valued at $211,000. Centiva Capital LP acquired a new position in shares of NB Bancorp during the third quarter valued at $213,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NB Bancorp in the third quarter valued at about $235,000.

NB Bancorp Trading Up 4.1 %

The firm has a 50 day simple moving average of $18.99 and a two-hundred day simple moving average of $18.46. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.16.

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.