Northeast Bank (NASDAQ:NBN) Shares Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management grew its position in Northeast Bank (NASDAQ:NBN) by 57.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323 shares of the financial services provider’s stock after purchasing an additional 118 shares during the period. Picton Mahoney Asset Management’s holdings in Northeast Bank were worth $30,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NBN. Swiss National Bank purchased a new stake in shares of Northeast Bank during the 4th quarter valued at about $1,330,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Northeast Bank by 51.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,072 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 3,780 shares during the period. AlphaQuest LLC raised its holdings in shares of Northeast Bank by 12,410.5% during the 4th quarter. AlphaQuest LLC now owns 2,377 shares of the financial services provider’s stock valued at $218,000 after buying an additional 2,358 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Northeast Bank during the 4th quarter valued at about $294,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Northeast Bank by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,875 shares of the financial services provider’s stock valued at $1,823,000 after buying an additional 892 shares during the period.

Northeast Bank Stock Down 0.8 %

NBN stock opened at $91.79 on Tuesday. Northeast Bank has a 52-week low of $49.97 and a 52-week high of $110.35. The stock’s 50 day moving average is $99.00 and its two-hundred day moving average is $91.24. The company has a market capitalization of $753.23 million, a PE ratio of 10.69 and a beta of 1.06.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.18.

Northeast Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 annualized dividend and a yield of 0.04%. Northeast Bank’s dividend payout ratio is presently 0.47%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their target price on Northeast Bank from $102.00 to $115.00 and gave the company a “market perform” rating in a 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.