Squarepoint Ops LLC Acquires Shares of 7,965 Northeast Bank (NASDAQ:NBN)

Squarepoint Ops LLC acquired a new stake in Northeast Bank (NASDAQ:NBN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,965 shares of the financial services provider’s stock, valued at approximately $731,000. Squarepoint Ops LLC owned approximately 0.10% of Northeast Bank at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NBN. Picton Mahoney Asset Management increased its holdings in Northeast Bank by 57.6% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock worth $30,000 after buying an additional 118 shares during the last quarter. R Squared Ltd purchased a new position in shares of Northeast Bank in the fourth quarter worth about $41,000. Point72 Asset Management L.P. purchased a new position in shares of Northeast Bank in the fourth quarter worth about $127,000. KLP Kapitalforvaltning AS purchased a new position in shares of Northeast Bank in the fourth quarter worth about $128,000. Finally, Federated Hermes Inc. increased its stake in shares of Northeast Bank by 44.4% in the fourth quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 479 shares in the last quarter.

Analysts Set New Price Targets

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

Northeast Bank Stock Performance

Shares of NBN opened at $81.78 on Tuesday. The firm has a market cap of $671.09 million, a price-to-earnings 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 has a 50 day moving average price of $86.14 and a 200-day moving average price of $93.60.

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

Northeast Bank Announces Dividend

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

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.