Charles Schwab Investment Management Inc. Buys 892 Shares of Northeast Bank (NASDAQ:NBN)

Charles Schwab Investment Management Inc. boosted its stake in shares of Northeast Bank (NASDAQ:NBN) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,875 shares of the financial services provider’s stock after purchasing an additional 892 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.24% of Northeast Bank worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NBN. Geode Capital Management LLC boosted its holdings in shares of Northeast Bank by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 153,470 shares of the financial services provider’s stock valued at $11,840,000 after buying an additional 801 shares in the last quarter. State Street Corp boosted its stake in Northeast Bank by 6.3% in the third quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock valued at $11,152,000 after acquiring an additional 8,518 shares in the last quarter. Polaris Capital Management LLC boosted its stake in Northeast Bank by 3.5% in the fourth quarter. Polaris Capital Management LLC now owns 49,600 shares of the financial services provider’s stock valued at $4,550,000 after acquiring an additional 1,700 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Northeast Bank by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 47,873 shares of the financial services provider’s stock worth $4,391,000 after purchasing an additional 1,498 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Northeast Bank by 136.3% during the third quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider’s stock worth $2,136,000 after purchasing an additional 15,975 shares in the last quarter.

Analyst Ratings Changes

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

Northeast Bank Stock Down 2.5 %

Shares of Northeast Bank stock opened at $91.14 on Friday. The company has a 50 day moving average price of $98.54 and a 200 day moving average price of $92.45. The firm has a market capitalization of $747.89 million, a P/E ratio of 10.61 and a beta of 1.06. Northeast Bank has a 52 week low of $50.02 and a 52 week 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.18.

Northeast Bank Dividend Announcement

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

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.