SG Americas Securities LLC Invests $185,000 in Northeast Bank (NASDAQ:NBN)

SG Americas Securities LLC acquired a new position in shares of Northeast Bank (NASDAQ:NBN) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,394 shares of the financial services provider’s stock, valued at approximately $185,000.

A number of other institutional investors also recently added to or reduced their stakes in NBN. Dimensional Fund Advisors LP boosted its stake in Northeast Bank by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 422,573 shares of the financial services provider’s stock valued at $25,716,000 after acquiring an additional 2,093 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Northeast Bank by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 350,434 shares of the financial services provider’s stock worth $19,393,000 after purchasing an additional 5,801 shares in the last quarter. Wellington Management Group LLP grew its stake in Northeast Bank by 52.0% during the 4th quarter. Wellington Management Group LLP now owns 209,649 shares of the financial services provider’s stock worth $11,571,000 after buying an additional 71,724 shares during the last quarter. American Century Companies Inc. increased its position in Northeast Bank by 18.7% during the 2nd quarter. American Century Companies Inc. now owns 126,748 shares of the financial services provider’s stock valued at $7,714,000 after buying an additional 19,947 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Northeast Bank by 5.8% in the first quarter. Russell Investments Group Ltd. now owns 63,165 shares of the financial services provider’s stock valued at $3,496,000 after buying an additional 3,459 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Piper Sandler restated 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 0.4 %

NASDAQ:NBN opened at $85.12 on Thursday. Northeast Bank has a 12 month low of $44.64 and a 12 month high of $88.28. The firm has a fifty day simple moving average of $73.48 and a 200-day simple moving average of $64.05.

Northeast Bank (NASDAQ:NBN) last issued its quarterly earnings results on Monday, July 29th. The financial services provider reported $1.91 EPS for the quarter. The firm had revenue of $68.66 million for the quarter. During the same period in the prior year, the company posted $1.61 earnings per share.

Northeast Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date was Friday, August 9th. Northeast Bank’s dividend payout ratio is presently 0.55%.

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.