AQR Capital Management LLC Takes $212,000 Position in Northeast Bank (NASDAQ:NBN)

AQR Capital Management LLC acquired a new stake in shares of Northeast Bank (NASDAQ:NBN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,487 shares of the financial services provider’s stock, valued at approximately $212,000.

Other hedge funds have also recently bought and sold shares of the company. Ellsworth Advisors LLC increased its stake in shares of Northeast Bank by 5.0% during the 2nd quarter. Ellsworth Advisors LLC now owns 12,613 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 598 shares during the last quarter. Boston Partners increased its position in Northeast Bank by 5.2% during the first quarter. Boston Partners now owns 13,839 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 689 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Northeast Bank by 82.2% during the first quarter. BNP Paribas Financial Markets now owns 3,640 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 1,642 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Northeast Bank by 3,166.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,025 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 1,963 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Northeast Bank by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 422,573 shares of the financial services provider’s stock valued at $25,716,000 after buying an additional 2,093 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reiterated an “overweight” rating and issued a $80.00 target price on shares of Northeast Bank in a report on Wednesday, September 11th.

Northeast Bank Trading Up 0.6 %

Shares of NASDAQ:NBN opened at $87.00 on Friday. Northeast Bank has a 1 year low of $43.21 and a 1 year high of $88.28. The stock has a 50-day simple moving average of $71.77 and a 200-day simple moving average of $63.15.

Northeast Bank (NASDAQ:NBN) last released its quarterly earnings data on Monday, July 29th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $68.66 million during the quarter. During the same period in the prior year, the firm earned $1.61 earnings per share.

Northeast Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. Northeast Bank’s dividend payout ratio (DPR) is currently 0.55%.

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.