Northeast Bank (NASDAQ:NBN) Stock Price Crosses Above 200 Day Moving Average of $52.88

Shares of Northeast Bank (NASDAQ:NBN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $52.88 and traded as high as $55.35. Northeast Bank shares last traded at $55.19, with a volume of 12,138 shares.

Northeast Bank Stock Up 1.1 %

The stock’s 50 day moving average price is $53.14 and its two-hundred day moving average price is $52.88.

Northeast Bank (NASDAQ:NBN) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.11. The business had revenue of $66.03 million during the quarter, compared to analyst estimates of $36.34 million. During the same quarter last year, the firm earned $1.69 earnings per share.

Northeast Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 27th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.07%. Northeast Bank’s dividend payout ratio (DPR) is presently 0.55%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in shares of Northeast Bank by 28.5% during the fourth quarter. SG Americas Securities LLC now owns 3,801 shares of the financial services provider’s stock worth $210,000 after buying an additional 843 shares during the last quarter. Wellington Management Group LLP acquired a new position in Northeast Bank in the third quarter valued at about $6,082,000. Polaris Capital Management LLC bought a new position in Northeast Bank in the 3rd quarter valued at $1,200,000. Assenagon Asset Management S.A. acquired a new position in shares of Northeast Bank during the fourth quarter worth approximately $491,000. Finally, Kennedy Capital Management LLC raised its position in shares of Northeast Bank by 6.7% during the third quarter. Kennedy Capital Management LLC now owns 103,736 shares of the financial services provider’s stock worth $4,575,000 after acquiring an additional 6,544 shares during the last quarter.

About Northeast Bank

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.