Raffles Associates LP Has $3.36 Million Holdings in NB Bancorp, Inc. (NASDAQ:NBBK)

Raffles Associates LP grew its holdings in shares of NB Bancorp, Inc. (NASDAQ:NBBK) by 101.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 223,019 shares of the company’s stock after buying an additional 112,319 shares during the quarter. NB Bancorp accounts for about 3.8% of Raffles Associates LP’s investment portfolio, making the stock its 10th biggest position. Raffles Associates LP owned 0.52% of NB Bancorp worth $3,363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. nVerses Capital LLC bought a new position in NB Bancorp in the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD bought a new position in NB Bancorp in the second quarter worth approximately $30,000. BNP Paribas Financial Markets purchased a new position in NB Bancorp during the 1st quarter worth $85,000. Acadian Asset Management LLC bought a new stake in NB Bancorp during the 2nd quarter valued at $95,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of NB Bancorp in the 2nd quarter worth $104,000.

NB Bancorp Trading Up 1.0 %

Shares of NBBK opened at $18.55 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $18.08 and a 200-day moving average price of $15.79. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $41.70 million for the quarter, compared to the consensus estimate of $41.50 million. NB Bancorp had a return on equity of 2.04% and a net margin of 4.73%. As a group, research analysts forecast that NB Bancorp, Inc. will post 1 EPS for the current year.

Insider Buying and Selling at NB Bancorp

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

Analyst Upgrades and Downgrades

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

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.