Congress Wealth Management LLC DE Takes $3.18 Million Position in Northeast Bank (NASDAQ:NBN)

Congress Wealth Management LLC DE purchased a new position in shares of Northeast Bank (NASDAQ:NBN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 34,702 shares of the financial services provider’s stock, valued at approximately $3,183,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Northeast Bank during the 3rd quarter worth $562,000. Quantbot Technologies LP purchased a new stake in shares of Northeast Bank during the third quarter worth about $76,000. BNP Paribas Financial Markets lifted its stake in shares of Northeast Bank by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 442 shares in the last quarter. State Street Corp lifted its stake 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 worth $11,152,000 after acquiring an additional 8,518 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Northeast Bank by 23.6% in the third quarter. Jane Street Group LLC now owns 8,047 shares of the financial services provider’s stock valued at $621,000 after purchasing an additional 1,535 shares during the last quarter.

Northeast Bank Price Performance

NASDAQ NBN opened at $93.71 on Thursday. The company has a market capitalization of $768.98 million, a price-to-earnings ratio of 10.91 and a beta of 1.06. Northeast Bank has a 12 month low of $50.02 and a 12 month high of $110.35. The company’s fifty day moving average price is $98.89 and its two-hundred day moving average price is $92.28.

Northeast Bank (NASDAQ:NBN) last issued its earnings results 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 Announces Dividend

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

Analyst Upgrades and Downgrades

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

About Northeast Bank

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.