Janney Montgomery Scott LLC Boosts Holdings in Northeast Bank (NASDAQ:NBN)

Janney Montgomery Scott LLC raised its holdings in shares of Northeast Bank (NASDAQ:NBNGet Rating) by 23.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,248 shares of the financial services provider’s stock after purchasing an additional 2,137 shares during the period. Janney Montgomery Scott LLC’s holdings in Northeast Bank were worth $412,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Advisory Inc. purchased a new position in Northeast Bank during the 2nd quarter valued at about $2,795,000. Assenagon Asset Management S.A. purchased a new stake in shares of Northeast Bank during the second quarter worth about $2,308,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Northeast Bank during the second quarter worth about $301,000. Trevian Wealth Management LLC grew its holdings in shares of Northeast Bank by 99.4% during the second quarter. Trevian Wealth Management LLC now owns 93,522 shares of the financial services provider’s stock worth $3,413,000 after buying an additional 46,630 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Northeast Bank during the second quarter worth about $202,000. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NBN. Piper Sandler lifted their price target on shares of Northeast Bank from $46.00 to $60.00 in a report on Friday, December 9th. StockNews.com upgraded shares of Northeast Bank from a “hold” rating to a “buy” rating in a report on Wednesday, December 7th.

Northeast Bank Stock Performance

NBN opened at $42.92 on Tuesday. The company’s 50 day simple moving average is $42.90 and its 200 day simple moving average is $40.94. Northeast Bank has a 1 year low of $33.09 and a 1 year high of $48.50. The stock has a market capitalization of $357.95 million, a PE ratio of 8.18 and a beta of 1.23.

Northeast Bank (NASDAQ:NBNGet Rating) last released its earnings results on Monday, October 31st. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.09). The company had revenue of $25.31 million for the quarter, compared to analyst estimates of $27.34 million. During the same quarter in the previous year, the company earned $1.20 earnings per share.

Northeast Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Monday, November 14th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, November 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.09%. Northeast Bank’s dividend payout ratio (DPR) is 0.76%.

Northeast Bank Company Profile

(Get Rating)

Northeast Bank (Maine) engages in offering personal and business banking services. The company provides commercial loans nationally secured by all types of real estate, equipment or other business assets, including government guaranteed loans. It also provides a full range of business banking services, from banking accounts to financing options to cash management.

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Institutional Ownership by Quarter for Northeast Bank (NASDAQ:NBN)

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