Jane Street Group LLC Purchases 1,535 Shares of Northeast Bank (NASDAQ:NBN)

Jane Street Group LLC lifted its stake in Northeast Bank (NASDAQ:NBN) by 23.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,047 shares of the financial services provider’s stock after acquiring an additional 1,535 shares during the period. Jane Street Group LLC’s holdings in Northeast Bank were worth $621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of 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 worth $25,716,000 after acquiring an additional 2,093 shares during the last quarter. State Street Corp grew its stake in shares of Northeast Bank by 6.3% in the third quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock worth $11,152,000 after acquiring an additional 8,518 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Northeast Bank by 18.7% in the second quarter. American Century Companies Inc. now owns 126,748 shares of the financial services provider’s stock worth $7,714,000 after acquiring an additional 19,947 shares during the last quarter. Foundry Partners LLC grew its stake in shares of Northeast Bank by 0.9% in the third quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider’s stock worth $5,717,000 after acquiring an additional 695 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Northeast Bank by 4.4% during the second quarter. Bank of New York Mellon Corp now owns 51,561 shares of the financial services provider’s stock worth $3,138,000 after buying an additional 2,175 shares in the last quarter.

Northeast Bank Trading Up 2.6 %

NBN opened at $93.88 on Friday. Northeast Bank has a fifty-two week low of $49.07 and a fifty-two week high of $105.44. The firm’s fifty day moving average price is $96.36 and its two-hundred day moving average price is $78.77.

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

Northeast Bank Announces Dividend

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

Wall Street Analyst Weigh In

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

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.