Acadian Asset Management LLC Makes New $95,000 Investment in NB Bancorp, Inc. (NASDAQ:NBBK)

Acadian Asset Management LLC purchased a new position in NB Bancorp, Inc. (NASDAQ:NBBK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,329 shares of the company’s stock, valued at approximately $95,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stilwell Value LLC purchased a new position in NB Bancorp in the 4th quarter worth $1,076,000. Lynch & Associates IN acquired a new stake in shares of NB Bancorp during the first quarter worth about $957,000. Hennessy Advisors Inc. purchased a new stake in NB Bancorp in the first quarter valued at approximately $2,595,000. Vanguard Group Inc. acquired a new position in NB Bancorp in the 1st quarter worth approximately $27,058,000. Finally, Wellington Management Group LLP acquired a new position in NB Bancorp in the 4th quarter worth approximately $7,232,000.

Insider Activity at NB Bancorp

In other news, CEO Joseph P. Campanelli acquired 5,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $17.49 per share, with a total value of $87,450.00. Following the completion of the acquisition, the chief executive officer now owns 50,000 shares of the company’s stock, valued at $874,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NB Bancorp news, CFO Jean-Pierre Lapointe bought 3,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $17.49 per share, for a total transaction of $52,470.00. Following the transaction, the chief financial officer now directly owns 3,300 shares of the company’s stock, valued at approximately $57,717. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph P. Campanelli purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $17.49 per share, with a total value of $87,450.00. Following the acquisition, the chief executive officer now owns 50,000 shares in the company, valued at approximately $874,500. The disclosure for this purchase can be found here. Insiders bought a total of 11,500 shares of company stock worth $198,675 in the last three months. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler upped their price objective on shares of NB Bancorp from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, July 25th.

NB Bancorp Trading Down 1.0 %

NASDAQ NBBK opened at $18.36 on Friday. The stock has a 50-day simple moving average of $18.04 and a two-hundred day simple moving average of $15.74. 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, Inc. has a fifty-two week low of $13.10 and a fifty-two week high of $19.27.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $41.70 million during the quarter, compared to analysts’ expectations of $41.50 million. NB Bancorp had a return on equity of 2.04% and a net margin of 4.73%. As a group, equities research analysts forecast that NB Bancorp, Inc. will post 1 earnings per share for the current year.

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.