Northeast Bank (NASDAQ:NBN) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in shares of Northeast Bank (NASDAQ:NBN) by 52.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,649 shares of the financial services provider’s stock after acquiring an additional 71,724 shares during the period. Wellington Management Group LLP’s holdings in Northeast Bank were worth $11,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in Northeast Bank by 28.5% during the fourth quarter. SG Americas Securities LLC now owns 3,801 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 843 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Northeast Bank in the fourth quarter valued at approximately $491,000. Janney Montgomery Scott LLC raised its position in shares of Northeast Bank by 10.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,501 shares of the financial services provider’s stock valued at $911,000 after buying an additional 1,619 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Northeast Bank by 7.2% in the fourth quarter. Russell Investments Group Ltd. now owns 59,706 shares of the financial services provider’s stock valued at $3,295,000 after buying an additional 3,989 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its position in shares of Northeast Bank by 6.7% in the third quarter. Kennedy Capital Management LLC now owns 103,736 shares of the financial services provider’s stock valued at $4,575,000 after buying an additional 6,544 shares during the last quarter.

Northeast Bank Price Performance

NASDAQ:NBN opened at $55.75 on Thursday. The firm has a 50 day simple moving average of $55.50 and a 200-day simple moving average of $54.40. Northeast Bank has a 1-year low of $39.17 and a 1-year high of $62.30.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.11. The firm had revenue of $66.03 million during the quarter, compared to analyst estimates of $36.34 million. During the same period in the prior year, the firm earned $1.69 EPS.

Northeast Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 27th. Investors of record on Monday, May 13th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.07%. The ex-dividend date was Friday, May 10th. Northeast Bank’s dividend payout ratio (DPR) is 0.55%.

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.