Northeast Bank (NASDAQ:NBN) Stake Cut by EAM Investors LLC

EAM Investors LLC lowered its stake in shares of Northeast Bank (NASDAQ:NBN) by 21.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,632 shares of the financial services provider’s stock after selling 2,906 shares during the period. EAM Investors LLC’s holdings in Northeast Bank were worth $975,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its position in shares of Northeast Bank by 57.6% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock worth $30,000 after buying an additional 118 shares during the last quarter. R Squared Ltd bought a new stake in shares of Northeast Bank in the fourth quarter valued at about $41,000. BNP Paribas Financial Markets grew its holdings in shares of Northeast Bank by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 442 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Northeast Bank during the fourth quarter worth $128,000. Finally, Federated Hermes Inc. increased its stake in Northeast Bank by 44.4% in the fourth quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 479 shares during the period.

Northeast Bank Stock Performance

Shares of NBN stock opened at $87.47 on Thursday. The stock has a market capitalization of $717.78 million, a PE ratio of 10.18 and a beta of 0.85. Northeast Bank has a 52 week low of $50.02 and a 52 week high of $110.35. The stock’s fifty day moving average is $93.70 and its 200-day moving average is $93.85.

Northeast Bank (NASDAQ:NBN) last released its earnings results on Thursday, February 6th. The financial services provider reported $2.74 EPS for the quarter, beating the consensus estimate of $2.56 by $0.18.

Northeast Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. The ex-dividend date was Tuesday, February 18th. Northeast Bank’s payout ratio is 0.47%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price target 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 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.