Northeast Bank (NASDAQ:NBN) Price Target Raised to $115.00 at Keefe, Bruyette & Woods

Northeast Bank (NASDAQ:NBN) had its price objective hoisted by Keefe, Bruyette & Woods from $102.00 to $115.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Northeast Bank Stock Down 2.4 %

NBN opened at $106.93 on Monday. Northeast Bank has a 52 week low of $49.07 and a 52 week high of $110.35. The business’s 50 day moving average is $97.61 and its two-hundred day moving average is $85.64. The firm has a market cap of $877.90 million, a price-to-earnings ratio of 12.45 and a beta of 1.08.

Northeast Bank (NASDAQ:NBN) last announced its earnings results on Thursday, February 6th. The financial services provider reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.18.

Northeast Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Tuesday, February 18th. Northeast Bank’s dividend payout ratio is currently 0.47%.

Institutional Trading of Northeast Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management increased its holdings in shares of Northeast Bank by 57.6% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 118 shares during the period. R Squared Ltd purchased a new position in Northeast Bank in the 4th quarter valued at $41,000. Quantbot Technologies LP acquired a new position in Northeast Bank in the 3rd quarter valued at $76,000. BNP Paribas Financial Markets raised its position in Northeast Bank by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock worth $127,000 after buying an additional 442 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Northeast Bank by 12,410.5% in the 4th quarter. AlphaQuest LLC now owns 2,377 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 2,358 shares during the period.

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.