Franklin Resources Inc. Has $2.78 Million Stock Position in Northeast Bank (NASDAQ:NBN)

Franklin Resources Inc. lessened its holdings in shares of Northeast Bank (NASDAQ:NBN) by 37.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,279 shares of the financial services provider’s stock after selling 18,298 shares during the quarter. Franklin Resources Inc. owned approximately 0.37% of Northeast Bank worth $2,777,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NBN. BNP Paribas Financial Markets raised its stake in Northeast Bank by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 442 shares during the period. State Street Corp raised its position in shares of Northeast Bank by 6.3% in the third quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock valued at $11,152,000 after purchasing an additional 8,518 shares during the period. Jane Street Group LLC lifted its stake in shares of Northeast Bank by 23.6% during the 3rd quarter. Jane Street Group LLC now owns 8,047 shares of the financial services provider’s stock worth $621,000 after buying an additional 1,535 shares during the last quarter. Barclays PLC raised its holdings in Northeast Bank by 278.7% in the 3rd quarter. Barclays PLC now owns 8,646 shares of the financial services provider’s stock valued at $666,000 after acquiring an additional 6,363 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Northeast Bank by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 153,470 shares of the financial services provider’s stock valued at $11,840,000 after acquiring an additional 801 shares during the period.

Analysts Set New Price Targets

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

Northeast Bank Stock Performance

Shares of Northeast Bank stock opened at $82.81 on Friday. The firm has a 50-day moving average of $94.89 and a 200-day moving average of $93.76. Northeast Bank has a 52-week low of $50.02 and a 52-week high of $110.35. The stock has a market cap of $679.54 million, a PE ratio of 9.64 and a beta of 0.85.

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, beating analysts’ consensus estimates of $2.56 by $0.18.

Northeast Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th 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, February 18th. Northeast Bank’s dividend payout ratio is currently 0.47%.

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.