Wedge Capital Management L L P NC bought a new position in Northeast Bank (NASDAQ:NBN – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,154 shares of the financial services provider’s stock, valued at approximately $656,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in Northeast Bank by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 442 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Northeast Bank by 11.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,268 shares of the financial services provider’s stock worth $406,000 after buying an additional 520 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of Northeast Bank by 0.9% in the 3rd quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider’s stock valued at $5,717,000 after buying an additional 695 shares during the period. Geode Capital Management LLC boosted its stake in shares of Northeast Bank by 0.5% in the third quarter. Geode Capital Management LLC now owns 153,470 shares of the financial services provider’s stock valued at $11,840,000 after buying an additional 801 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Northeast Bank during the third quarter worth $76,000.
Analysts Set New Price Targets
Separately, Keefe, Bruyette & Woods began coverage on shares of Northeast Bank in a research report on Thursday, November 21st. They set a “market perform” rating and a $102.00 target price on the stock.
Northeast Bank Price Performance
Shares of NASDAQ:NBN opened at $101.89 on Wednesday. Northeast Bank has a 12 month low of $49.07 and a 12 month high of $105.44. The firm has a market capitalization of $836.11 million, a price-to-earnings ratio of 13.23 and a beta of 1.08. The business’s 50 day simple moving average is $96.84 and its 200-day simple moving average is $82.01.
Northeast Bank (NASDAQ:NBN – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.34. The firm had revenue of $73.97 million during the quarter, compared to analysts’ expectations of $38.20 million. During the same quarter in the prior year, the business earned $2.01 EPS.
Northeast Bank Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date was Tuesday, November 12th. Northeast Bank’s dividend payout ratio (DPR) is presently 0.52%.
Northeast Bank Profile
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.
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