Bank of New York Mellon Corp Purchases New Position in NB Bancorp, Inc. (NASDAQ:NBBK)

Bank of New York Mellon Corp purchased a new stake in NB Bancorp, Inc. (NASDAQ:NBBK) during the second quarter, Holdings Channel reports. The institutional investor purchased 120,688 shares of the company’s stock, valued at approximately $1,820,000.

A number of other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of NB Bancorp during the 2nd quarter worth about $267,000. EJF Capital LLC boosted its holdings in NB Bancorp by 90.5% in the 1st quarter. EJF Capital LLC now owns 390,617 shares of the company’s stock valued at $5,336,000 after purchasing an additional 185,617 shares during the period. Janus Henderson Group PLC bought a new stake in NB Bancorp in the 1st quarter valued at about $312,000. Stieven Capital Advisors L.P. bought a new stake in NB Bancorp in the 1st quarter valued at about $5,037,000. Finally, Vanguard Group Inc. acquired a new position in shares of NB Bancorp in the 1st quarter valued at approximately $27,058,000.

NB Bancorp Stock Down 0.4 %

Shares of NASDAQ:NBBK opened at $18.41 on Wednesday. The firm has a 50 day moving average of $17.89 and a 200-day moving average of $15.66. NB Bancorp, Inc. has a 12 month low of $13.10 and a 12 month high of $19.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.10 and a current ratio of 1.10.

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

Insider Buying and Selling

In other NB Bancorp news, CEO Joseph P. Campanelli acquired 3,000 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $16.44 per share, for a total transaction of $49,320.00. Following the completion of the acquisition, the chief executive officer now owns 53,000 shares in the company, valued at approximately $871,320. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Joseph P. Campanelli bought 3,000 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $16.44 per share, for a total transaction 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 approximately $871,320. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph P. Campanelli acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $17.49 per share, with a total value of $87,450.00. Following the acquisition, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at approximately $874,500. The disclosure for this purchase can be found here. Insiders have purchased a total of 11,500 shares of company stock valued at $198,675 over the last ninety days. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

NB Bancorp Company 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.