Swiss National Bank Invests $1.33 Million in Northeast Bank (NASDAQ:NBN)

Swiss National Bank bought a new stake in Northeast Bank (NASDAQ:NBN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,500 shares of the financial services provider’s stock, valued at approximately $1,330,000. Swiss National Bank owned approximately 0.18% of Northeast Bank at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Northeast Bank in the 3rd quarter valued at about $562,000. Quantbot Technologies LP bought a new stake in Northeast Bank in the third quarter valued at approximately $76,000. BNP Paribas Financial Markets boosted its stake 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 valued at $127,000 after purchasing an additional 442 shares during the period. State Street Corp boosted its stake in shares of Northeast Bank by 6.3% during the third 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. Finally, Jane Street Group LLC grew its holdings in shares of Northeast Bank by 23.6% in the third quarter. Jane Street Group LLC now owns 8,047 shares of the financial services provider’s stock worth $621,000 after purchasing an additional 1,535 shares during the last quarter.

Northeast Bank Price Performance

NBN opened at $91.14 on Friday. Northeast Bank has a one year low of $50.02 and a one year high of $110.35. The business has a 50 day simple moving average of $98.54 and a two-hundred day simple moving average of $92.45. The firm has a market capitalization of $747.89 million, a price-to-earnings ratio of 10.61 and a beta of 1.06.

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

Northeast Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid 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 was Tuesday, February 18th. Northeast Bank’s payout ratio is 0.47%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their price target on shares of Northeast Bank from $102.00 to $115.00 and gave the company 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.