Barclays PLC Acquires 6,363 Shares of Northeast Bank (NASDAQ:NBN)

Barclays PLC grew its stake in Northeast Bank (NASDAQ:NBN) by 278.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,646 shares of the financial services provider’s stock after acquiring an additional 6,363 shares during the quarter. Barclays PLC’s holdings in Northeast Bank were worth $666,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NBN. Jane Street Group LLC boosted its stake in shares of Northeast Bank by 23.6% in the 3rd quarter. Jane Street Group LLC now owns 8,047 shares of the financial services provider’s stock worth $621,000 after buying an additional 1,535 shares during the last quarter. State Street Corp raised its stake in Northeast Bank by 6.3% during the 3rd quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock valued at $11,152,000 after purchasing an additional 8,518 shares during the period. BNP Paribas Financial Markets boosted its position in shares of 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 worth $127,000 after acquiring an additional 442 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Northeast Bank in the third quarter worth about $76,000. Finally, Foundry Partners LLC boosted its position in shares of Northeast Bank by 0.9% during the 3rd quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider’s stock valued at $5,717,000 after acquiring an additional 695 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NBN shares. 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 target price for the company. Piper Sandler restated an “overweight” rating and issued a $80.00 target price on shares of Northeast Bank in a research note on Wednesday, September 11th.

Northeast Bank Price Performance

NBN stock opened at $91.73 on Thursday. Northeast Bank has a one year low of $49.07 and a one year high of $105.44. The firm has a 50-day simple moving average of $96.05 and a two-hundred day simple moving average of $78.42.

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

Northeast Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.01 dividend. 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 currently 0.52%.

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.