NB Bancorp, Inc.’s Lock-Up Period Will Expire on June 25th (NASDAQ:NBBK)

NB Bancorp’s (NASDAQ:NBBK) lock-up period is set to end on Tuesday, June 25th. NB Bancorp had issued 40,997,500 shares in its IPO on December 28th. The total size of the offering was $409,975,000 based on an initial share price of $10.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analysts Set New Price Targets

Separately, Piper Sandler initiated coverage on NB Bancorp in a report on Tuesday, April 9th. They set an “overweight” rating and a $17.00 price objective for the company.

NB Bancorp Stock Performance

NBBK stock opened at $14.50 on Thursday. The business’s fifty day moving average price is $14.74. NB Bancorp has a fifty-two week low of $13.10 and a fifty-two week high of $16.05. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.08.

NB Bancorp (NASDAQ:NBBK) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $42.13 million during the quarter, compared to the consensus estimate of $38.30 million. Analysts anticipate that NB Bancorp will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Salvatore J. Rinaldi bought 6,900 shares of the stock in a transaction on Monday, April 29th. The shares were acquired at an average cost of $14.50 per share, for a total transaction of $100,050.00. Following the purchase, the chief operating officer now directly owns 21,319 shares of the company’s stock, valued at approximately $309,125.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NB Bancorp news, COO Salvatore J. Rinaldi bought 6,900 shares of NB Bancorp stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average cost of $14.50 per share, for a total transaction of $100,050.00. Following the completion of the transaction, the chief operating officer now directly owns 21,319 shares in the company, valued at $309,125.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jean-Pierre Lapointe bought 3,095 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was acquired at an average price of $15.05 per share, for a total transaction of $46,579.75. Following the completion of the purchase, the chief financial officer now directly owns 3,124 shares in the company, valued at $47,016.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 25,995 shares of company stock worth $381,190. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On NB Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of NBBK. BNP Paribas Financial Markets bought a new stake in shares of NB Bancorp during the 1st quarter worth $85,000. Gray Private Wealth LLC bought a new stake in NB Bancorp during the first quarter worth about $145,000. Janney Montgomery Scott LLC bought a new stake in NB Bancorp during the first quarter worth about $273,000. Barry Investment Advisors LLC purchased a new position in shares of NB Bancorp in the 1st quarter worth about $273,000. Finally, Janus Henderson Group PLC bought a new position in shares of NB Bancorp during the 1st quarter valued at about $312,000.

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.