Northeast Bank (NASDAQ:NBN) Stake Reduced by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its stake in Northeast Bank (NASDAQ:NBNFree Report) by 87.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,687 shares of the financial services provider’s stock after selling 18,867 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Northeast Bank were worth $246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Northeast Bank by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 422,573 shares of the financial services provider’s stock valued at $25,716,000 after acquiring an additional 2,093 shares during the period. Marshall Wace LLP bought a new position in Northeast Bank during the second quarter valued at about $631,000. Squarepoint Ops LLC acquired a new position in Northeast Bank during the second quarter worth about $229,000. AQR Capital Management LLC bought a new stake in Northeast Bank in the second quarter worth about $212,000. Finally, SG Americas Securities LLC acquired a new stake in Northeast Bank in the 3rd quarter valued at about $185,000.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods assumed coverage on Northeast Bank in a research note on Thursday, November 21st. They set a “market perform” rating and a $102.00 price objective for the company.

Get Our Latest Research Report on NBN

Northeast Bank Trading Up 0.9 %

Northeast Bank stock opened at $101.42 on Friday. Northeast Bank has a 1-year low of $49.07 and a 1-year high of $105.44. The firm’s fifty day simple moving average is $96.83 and its 200-day simple moving average is $82.87. The company has a market capitalization of $832.25 million, a P/E ratio of 13.17 and a beta of 1.08.

Northeast Bank (NASDAQ:NBNGet Free Report) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $2.11 EPS for the quarter, topping the consensus estimate of $1.77 by $0.34. The firm had revenue of $73.97 million during the quarter, compared to the consensus estimate of $38.20 million. During the same quarter last year, the business earned $2.01 EPS.

Northeast Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders 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 of this dividend was Tuesday, November 12th. Northeast Bank’s payout ratio is 0.52%.

Northeast Bank Profile

(Free Report)

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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Institutional Ownership by Quarter for Northeast Bank (NASDAQ:NBN)

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