Freestone Capital Holdings LLC Reduces Stock Holdings in NB Bancorp, Inc. (NASDAQ:NBBK)

Freestone Capital Holdings LLC reduced its stake in shares of NB Bancorp, Inc. (NASDAQ:NBBK) by 62.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,134 shares of the company’s stock after selling 43,866 shares during the quarter. Freestone Capital Holdings LLC owned 0.06% of NB Bancorp worth $357,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Stieven Capital Advisors L.P. purchased a new stake in shares of NB Bancorp during the 1st quarter valued at about $5,037,000. Vanguard Group Inc. purchased a new stake in NB Bancorp during the 1st quarter worth approximately $27,058,000. Oppenheimer & Close LLC increased its holdings in NB Bancorp by 22.1% during the 1st quarter. Oppenheimer & Close LLC now owns 82,999 shares of the company’s stock worth $1,134,000 after purchasing an additional 15,000 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in NB Bancorp during the 1st quarter worth approximately $273,000. Finally, BNP Paribas Financial Markets purchased a new stake in NB Bancorp during the 1st quarter worth approximately $85,000.

Wall Street Analyst Weigh In

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

NB Bancorp Price Performance

NBBK stock traded up $0.36 during midday trading on Friday, hitting $18.66. 380,822 shares of the company’s stock were exchanged, compared to its average volume of 729,926. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.10 and a quick ratio of 1.10. NB Bancorp, Inc. has a 12-month low of $13.10 and a 12-month high of $18.68. The firm has a 50 day moving average price of $15.54 and a 200-day moving average price of $14.61.

NB Bancorp (NASDAQ:NBBK) last issued its earnings results on Wednesday, April 24th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $42.13 million during the quarter, compared to analyst estimates of $38.30 million. Analysts expect that NB Bancorp, Inc. will post 1 EPS for the current year.

Insider Transactions at NB Bancorp

In related news, COO Salvatore J. Rinaldi acquired 6,900 shares of NB Bancorp stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average price of $14.50 per share, for a total transaction of $100,050.00. Following the transaction, 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 this link. In other news, CFO Jean-Pierre Lapointe acquired 3,095 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were bought at an average price of $15.05 per share, with a total value of $46,579.75. Following the purchase, the chief financial officer now owns 3,124 shares of the company’s stock, valued at $47,016.20. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Salvatore J. Rinaldi acquired 6,900 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was purchased 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 in the company, valued at approximately $309,125.50. The disclosure for this purchase can be found here. In the last quarter, insiders bought 10,995 shares of company stock worth $162,340. 1.70% of the stock is currently owned by corporate insiders.

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.