State Street Corp Raises Stock Position in Northeast Bank (NASDAQ:NBN)

State Street Corp lifted its stake in Northeast Bank (NASDAQ:NBN) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,591 shares of the financial services provider’s stock after purchasing an additional 8,518 shares during the period. State Street Corp’s holdings in Northeast Bank were worth $11,152,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in shares of Northeast Bank during the third quarter valued at approximately $76,000. BNP Paribas Financial Markets lifted its position in Northeast Bank by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock valued at $127,000 after buying an additional 442 shares during the period. SG Americas Securities LLC bought a new stake in shares of Northeast Bank during the 3rd quarter valued at $185,000. AQR Capital Management LLC purchased a new stake in shares of Northeast Bank in the 2nd quarter worth about $212,000. Finally, Squarepoint Ops LLC bought a new position in shares of Northeast Bank in the 2nd quarter worth about $229,000.

Northeast Bank Trading Up 1.1 %

Shares of Northeast Bank stock opened at $92.90 on Thursday. Northeast Bank has a 1-year low of $49.07 and a 1-year high of $105.44. The company’s fifty day simple moving average is $95.33 and its 200-day simple moving average is $77.06.

Northeast Bank (NASDAQ:NBN) last released its earnings results 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 for the quarter, compared to the consensus estimate of $38.20 million. During the same quarter in the previous year, the business posted $2.01 EPS.

Northeast Bank Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have issued reports on NBN. Keefe, Bruyette & Woods started coverage on Northeast Bank in a research note on Thursday, November 21st. They set a “market perform” rating and a $102.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and issued a $80.00 price target on shares of Northeast Bank in a research note on Wednesday, September 11th.

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.