Invesco Ltd. Buys 14,427 Shares of Northeast Bank (NASDAQ:NBN)

Invesco Ltd. boosted its stake in shares of Northeast Bank (NASDAQ:NBN) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,324 shares of the financial services provider’s stock after buying an additional 14,427 shares during the period. Invesco Ltd. owned approximately 1.20% of Northeast Bank worth $9,019,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP purchased a new stake in shares of Northeast Bank in the fourth quarter worth $4,820,000. Congress Wealth Management LLC DE bought a new stake in shares of Northeast Bank in the 4th quarter worth about $3,183,000. JPMorgan Chase & Co. grew its position in Northeast Bank by 113.8% in the 4th quarter. JPMorgan Chase & Co. now owns 59,222 shares of the financial services provider’s stock valued at $5,432,000 after acquiring an additional 31,523 shares during the last quarter. American Century Companies Inc. raised its stake in shares of 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 valued at $15,827,000 after acquiring an additional 25,220 shares in the last quarter. Finally, Vanguard Group Inc. grew its position 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 buying an additional 19,279 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price target on shares of 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 Down 0.1 %

Shares of NBN opened at $90.28 on Thursday. The company has a 50 day moving average of $92.08 and a two-hundred day moving average of $94.31. Northeast Bank has a twelve month low of $50.92 and a twelve month high of $110.35. The company has a market cap of $740.84 million, a price-to-earnings ratio of 10.51 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 for the quarter, topping analysts’ consensus estimates of $2.56 by $0.18.

Northeast Bank Announces Dividend

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

Northeast Bank Company 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.