Renaissance Technologies LLC Sells 8,200 Shares of Northeast Bank (NASDAQ:NBN)

Renaissance Technologies LLC trimmed its holdings in Northeast Bank (NASDAQ:NBN) by 4.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 158,845 shares of the financial services provider’s stock after selling 8,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Northeast Bank were worth $9,667,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NBN. Dimensional Fund Advisors LP boosted its holdings in shares of Northeast Bank by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 422,573 shares of the financial services provider’s stock valued at $25,716,000 after acquiring an additional 2,093 shares during the last quarter. Vanguard Group Inc. grew its position in Northeast Bank by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 350,434 shares of the financial services provider’s stock worth $19,393,000 after purchasing an additional 5,801 shares during the period. Wellington Management Group LLP raised its stake in Northeast Bank by 52.0% during the 4th quarter. Wellington Management Group LLP now owns 209,649 shares of the financial services provider’s stock valued at $11,571,000 after buying an additional 71,724 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Northeast Bank by 18.7% during the 2nd quarter. American Century Companies Inc. now owns 126,748 shares of the financial services provider’s stock valued at $7,714,000 after buying an additional 19,947 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Northeast Bank by 5.8% in the 1st quarter. Russell Investments Group Ltd. now owns 63,165 shares of the financial services provider’s stock worth $3,496,000 after buying an additional 3,459 shares during the last quarter.

Analysts Set New Price Targets

Separately, Piper Sandler reissued an “overweight” rating and issued a $80.00 target price on shares of Northeast Bank in a report on Wednesday, September 11th.

Northeast Bank Stock Performance

Shares of NASDAQ NBN opened at $69.31 on Tuesday. Northeast Bank has a 12-month low of $42.48 and a 12-month high of $74.85. The firm has a 50 day moving average of $68.40 and a 200 day moving average of $60.08.

Northeast Bank (NASDAQ:NBN) last announced its earnings results on Monday, July 29th. The financial services provider reported $1.91 EPS for the quarter. The company had revenue of $68.66 million during the quarter. During the same quarter in the prior year, the company posted $1.61 earnings per share.

Northeast Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date of this dividend was Friday, August 9th. Northeast Bank’s payout ratio is 0.55%.

Northeast Bank 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.