Wealth Enhancement Advisory Services LLC Buys 520 Shares of Northeast Bank (NASDAQ:NBN)

Wealth Enhancement Advisory Services LLC increased its position in Northeast Bank (NASDAQ:NBN) by 11.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,268 shares of the financial services provider’s stock after acquiring an additional 520 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Northeast Bank were worth $406,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in 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 buying an additional 1,963 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Northeast Bank in the third quarter valued at approximately $185,000. Enterprise Bank & Trust Co purchased a new stake in Northeast Bank in the second quarter valued at approximately $201,000. AQR Capital Management LLC bought a new stake in Northeast Bank during the second quarter valued at approximately $212,000. Finally, BNP Paribas Financial Markets grew its stake in 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 worth $201,000 after buying an additional 1,642 shares in the last quarter.

Northeast Bank Stock Down 0.9 %

Shares of NBN stock opened at $101.37 on Friday. The business has a 50-day moving average price of $79.05 and a two-hundred day moving average price of $67.27. Northeast Bank has a 12-month low of $49.07 and a 12-month high of $105.44.

Northeast Bank (NASDAQ:NBN) last released its earnings results on Tuesday, October 29th. The financial services provider reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.34. The firm had revenue of $73.97 million during the quarter, compared to the consensus estimate of $38.20 million. During the same quarter in the previous year, the firm earned $2.01 EPS.

Northeast Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Tuesday, November 12th. Northeast Bank’s dividend payout ratio is currently 0.52%.

Wall Street Analysts Forecast Growth

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 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.