Northeast Bank (NASDAQ:NBN) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of Northeast Bank (NASDAQ:NBN) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,873 shares of the financial services provider’s stock after acquiring an additional 1,498 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of Northeast Bank worth $4,391,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. R Squared Ltd purchased a new stake in Northeast Bank in the 4th quarter valued at about $41,000. Quantbot Technologies LP purchased a new position in shares of Northeast Bank during the 3rd quarter worth approximately $76,000. BNP Paribas Financial Markets increased its holdings in Northeast Bank by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 442 shares during the last quarter. Hohimer Wealth Management LLC purchased a new stake in Northeast Bank in the third quarter valued at approximately $244,000. Finally, SG Americas Securities LLC raised its position in Northeast Bank by 151.9% in the fourth quarter. SG Americas Securities LLC now owns 6,031 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 3,637 shares during the period.

Northeast Bank Stock Performance

Shares of NBN opened at $92.57 on Wednesday. The stock has a market capitalization of $759.63 million, a PE ratio of 10.78 and a beta of 1.06. The company’s 50-day simple moving average is $99.00 and its 200-day simple moving average is $91.40. Northeast Bank has a 1 year low of $50.02 and a 1 year high of $110.35.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $2.74 EPS for the quarter, topping the consensus estimate of $2.56 by $0.18.

Northeast Bank Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price target on Northeast Bank from $102.00 to $115.00 and gave the stock a “market perform” rating in a research report on Monday, February 10th.

Northeast Bank Company 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.