AQR Capital Management LLC Makes New Investment in Northeast Bank (NASDAQ:NBN)

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Northeast Bank by 3,166.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,025 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 1,963 shares in the last quarter. Enterprise Bank & Trust Co acquired a new position in shares of Northeast Bank during the 2nd quarter worth about $201,000. BNP Paribas Financial Markets increased its holdings in shares of Northeast Bank by 82.2% in the 1st quarter. BNP Paribas Financial Markets now owns 3,640 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,642 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Northeast Bank in the 2nd quarter valued at about $229,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Northeast Bank during the 2nd quarter worth about $373,000.

Analyst Ratings Changes

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

Northeast Bank Trading Up 0.6 %

Shares of Northeast Bank stock opened at $87.00 on Friday. The company’s 50-day simple moving average is $71.77 and its 200-day simple moving average is $63.15. Northeast Bank has a 52-week low of $43.21 and a 52-week high of $88.28.

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

Northeast Bank Announces Dividend

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