Connor Clark & Lunn Investment Management Ltd. Takes Position in Northeast Bank (NASDAQ:NBN)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Northeast Bank (NASDAQ:NBN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,292 shares of the financial services provider’s stock, valued at approximately $562,000.

Several other institutional investors have also bought and sold shares of NBN. Wealth Enhancement Advisory Services LLC grew its holdings in Northeast Bank by 11.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,268 shares of the financial services provider’s stock worth $406,000 after acquiring an additional 520 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Northeast Bank in the 2nd quarter worth approximately $373,000. Vanguard Group Inc. raised its holdings 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. AQR Capital Management LLC acquired a new stake in Northeast Bank during the second quarter valued at approximately $212,000. Finally, Boston Partners boosted its holdings in Northeast Bank by 5.2% during the first quarter. Boston Partners now owns 13,839 shares of the financial services provider’s stock worth $766,000 after buying an additional 689 shares in the last quarter.

Northeast Bank Trading Up 0.0 %

Shares of NBN opened at $98.45 on Friday. The company has a 50-day moving average of $88.31 and a two-hundred day moving average of $72.07. Northeast Bank has a one year low of $49.07 and a one year high of $105.44.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.11 EPS 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 analyst estimates of $38.20 million. During the same period in the prior year, the business posted $2.01 EPS.

Northeast Bank Dividend Announcement

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

Wall Street Analysts Forecast Growth

NBN has been the topic of several research reports. Keefe, Bruyette & Woods assumed coverage on Northeast Bank in a report on Thursday, November 21st. They issued a “market perform” rating and a $102.00 price target on the stock. Piper Sandler restated an “overweight” rating and issued a $80.00 target price on shares of Northeast Bank in a report on Wednesday, September 11th.

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.