Northern Trust Corp Has $6.07 Million Stock Position in Northeast Bank (NASDAQ:NBN)

Northern Trust Corp boosted its stake in Northeast Bank (NASDAQ:NBN) by 10.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 66,139 shares of the financial services provider’s stock after buying an additional 6,160 shares during the period. Northern Trust Corp owned approximately 0.81% of Northeast Bank worth $6,067,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royce & Associates LP acquired a new position in Northeast Bank in the 4th quarter valued at about $4,820,000. Raymond James Financial Inc. bought a new stake in shares of Northeast Bank in the fourth quarter valued at approximately $294,000. SG Americas Securities LLC boosted its stake in shares of Northeast Bank by 151.9% in the fourth quarter. SG Americas Securities LLC now owns 6,031 shares of the financial services provider’s stock valued at $553,000 after buying an additional 3,637 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Northeast Bank by 136.3% in the third quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider’s stock valued at $2,136,000 after buying an additional 15,975 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Northeast Bank by 17.2% in the fourth quarter. Invesco Ltd. now owns 98,324 shares of the financial services provider’s stock valued at $9,019,000 after buying an additional 14,427 shares during the period.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted 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 Price Performance

Shares of NASDAQ NBN opened at $85.25 on Wednesday. The stock has a market capitalization of $699.56 million, a P/E ratio of 9.92 and a beta of 0.60. The company has a 50-day moving average price of $87.93 and a 200-day moving average price of $94.66. Northeast Bank has a 1 year low of $54.50 and a 1 year high of $110.35.

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

Northeast Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. The ex-dividend date is Tuesday, May 13th. Northeast Bank’s dividend payout ratio (DPR) 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.