Prospector Partners LLC Makes New $3.65 Million Investment in NB Bancorp, Inc. (NASDAQ:NBBK)

Prospector Partners LLC purchased a new stake in shares of NB Bancorp, Inc. (NASDAQ:NBBK) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 242,272 shares of the company’s stock, valued at approximately $3,653,000. Prospector Partners LLC owned approximately 0.57% of NB Bancorp at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NBBK. nVerses Capital LLC bought a new stake in NB Bancorp during the second quarter valued at $26,000. Fairfield Financial Advisors LTD bought a new stake in shares of NB Bancorp during the 2nd quarter valued at about $30,000. BNP Paribas Financial Markets purchased a new position in shares of NB Bancorp during the first quarter worth about $85,000. Acadian Asset Management LLC bought a new position in shares of NB Bancorp in the second quarter worth approximately $95,000. Finally, International Assets Investment Management LLC purchased a new stake in NB Bancorp in the second quarter valued at approximately $104,000.

NB Bancorp Stock Performance

NASDAQ NBBK opened at $18.36 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s 50-day simple moving average is $18.04 and its two-hundred day simple moving average is $15.74. NB Bancorp, Inc. has a twelve month low of $13.10 and a twelve month high of $19.27.

NB Bancorp (NASDAQ:NBBK) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $41.70 million for 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 predict that NB Bancorp, Inc. will post 1 earnings per share for the current year.

Insiders Place Their Bets

In other NB Bancorp news, CEO Joseph P. Campanelli acquired 3,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $16.44 per share, with a total value of $49,320.00. Following the purchase, the chief executive officer now owns 53,000 shares of the company’s stock, valued at $871,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Joseph P. Campanelli bought 5,000 shares of the stock in a transaction dated 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 purchase, the chief executive officer now owns 50,000 shares in the company, valued at approximately $874,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph P. Campanelli bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $16.44 per share, with a total value of $49,320.00. Following the completion of the acquisition, the chief executive officer now directly owns 53,000 shares in the company, valued at $871,320. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 11,500 shares of company stock valued at $198,675. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Piper Sandler boosted their price target on shares of NB Bancorp from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th.

NB Bancorp 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.