Short Interest in Northeast Bank (NASDAQ:NBN) Rises By 23.8%

Northeast Bank (NASDAQ:NBN) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 104,200 shares, an increase of 23.8% from the February 13th total of 84,200 shares. Based on an average daily volume of 50,200 shares, the short-interest ratio is currently 2.1 days. Approximately 1.5% of the shares of the company are short sold.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Northeast Bank

A number of hedge funds have recently modified their holdings of NBN. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Northeast Bank in the 3rd quarter valued at $562,000. Foundry Partners LLC lifted its holdings in shares of Northeast Bank by 0.9% during the third quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider’s stock valued at $5,717,000 after acquiring an additional 695 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Northeast Bank in the 3rd quarter valued at $76,000. BNP Paribas Financial Markets grew its holdings in shares of Northeast Bank by 36.7% in 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 during the last quarter. Finally, State Street Corp increased its position in shares of Northeast Bank by 6.3% during the 3rd quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock worth $11,152,000 after purchasing an additional 8,518 shares in the last quarter.

Northeast Bank Trading Up 1.8 %

NBN opened at $94.20 on Thursday. The stock has a market cap of $773.01 million, a PE ratio of 10.97 and a beta of 1.06. Northeast Bank has a 1 year low of $50.02 and a 1 year high of $110.35. The stock’s 50 day simple moving average is $99.01 and its 200-day simple moving average is $91.42.

Northeast Bank (NASDAQ:NBN) last announced its quarterly earnings data 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 Dividend Announcement

The business also recently disclosed 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 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.