NB Bancorp (NASDAQ:NBBK) Sees Large Volume Increase After Earnings Beat

NB Bancorp, Inc. (NASDAQ:NBBK) shares saw unusually-high trading volume on Thursday following a stronger than expected earnings report. Approximately 252,556 shares traded hands 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. NB Bancorp had a return on equity of 2.40% and a net margin of 4.47%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted 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.

Hedge Funds Weigh In On NB Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of NBBK. State Street Corp grew its position in NB Bancorp by 16.5% during the third quarter. State Street Corp now owns 994,380 shares of the company’s stock worth $18,456,000 after buying an additional 140,960 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in NB Bancorp during the third quarter valued at approximately $952,000. Barclays PLC grew its position in NB Bancorp by 73.0% during the 3rd quarter. Barclays PLC now owns 81,114 shares of the company’s stock worth $1,506,000 after acquiring an additional 34,235 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of NB Bancorp by 1,756.0% in the third quarter. International Assets Investment Management LLC now owns 128,064 shares of the company’s stock worth $2,377,000 after acquiring an additional 121,164 shares during the last quarter. Finally, Endeavour Capital Advisors Inc. raised its position in shares of NB Bancorp by 32.7% during the second quarter. Endeavour Capital Advisors Inc. now owns 181,769 shares of the company’s stock worth $2,741,000 after acquiring an additional 44,780 shares during the last quarter.

NB Bancorp Stock Performance

The firm’s 50 day moving average price is $18.99 and its 200-day moving average price is $18.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.10 and a quick ratio of 1.10.

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.