Northeast Bank (NASDAQ:NBN) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its position in shares of Northeast Bank (NASDAQ:NBN) by 38.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 17,893 shares of the financial services provider’s stock after buying an additional 4,956 shares during the quarter. Millennium Management LLC’s holdings in Northeast Bank were worth $1,641,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Northeast Bank by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider’s stock worth $35,132,000 after purchasing an additional 19,279 shares during the period. American Century Companies Inc. boosted its stake in Northeast Bank by 17.1% during the fourth quarter. American Century Companies Inc. now owns 172,538 shares of the financial services provider’s stock worth $15,827,000 after buying an additional 25,220 shares during the period. Geode Capital Management LLC boosted its stake in Northeast Bank by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 158,171 shares of the financial services provider’s stock worth $14,513,000 after buying an additional 4,701 shares during the period. Kennedy Capital Management LLC increased its position in shares of Northeast Bank by 9.5% during the fourth quarter. Kennedy Capital Management LLC now owns 141,994 shares of the financial services provider’s stock valued at $13,025,000 after acquiring an additional 12,301 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Northeast Bank by 17.2% in the 4th quarter. Invesco Ltd. now owns 98,324 shares of the financial services provider’s stock valued at $9,019,000 after acquiring an additional 14,427 shares during the period.

Northeast Bank Stock Down 2.4%

Shares of NBN opened at $81.78 on Tuesday. The company has a market cap of $671.09 million, a P/E ratio of 9.52 and a beta of 0.60. Northeast Bank has a fifty-two week low of $54.50 and a fifty-two week high of $110.35. The firm’s 50 day moving average price is $86.14 and its 200 day moving average price is $93.60.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.60). The firm had revenue of $52.57 million during the quarter, compared to analyst estimates of $50.09 million.

Northeast Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date was Tuesday, May 13th. Northeast Bank’s dividend payout ratio is currently 0.44%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Northeast Bank from $102.00 to $115.00 and gave the stock a “market perform” rating in a research report on Monday, February 10th.

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.