Northeast Bank (NASDAQ:NBN) Stake Lifted by Barclays PLC

Barclays PLC increased its position in shares of Northeast Bank (NASDAQ:NBN) by 278.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,646 shares of the financial services provider’s stock after purchasing an additional 6,363 shares during the period. Barclays PLC’s holdings in Northeast Bank were worth $666,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of 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 valued at $127,000 after purchasing an additional 442 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Northeast Bank by 11.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,268 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 520 shares during the last quarter. Foundry Partners LLC boosted its holdings in Northeast Bank by 0.9% during the third quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider’s stock worth $5,717,000 after buying an additional 695 shares in the last quarter. Geode Capital Management LLC grew its position in Northeast Bank by 0.5% in the third quarter. Geode Capital Management LLC now owns 153,470 shares of the financial services provider’s stock worth $11,840,000 after buying an additional 801 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Northeast Bank in the third quarter worth approximately $76,000.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods initiated coverage on Northeast Bank in a research note on Thursday, November 21st. They set a “market perform” rating and a $102.00 price objective for the company.

Northeast Bank Price Performance

Shares of NBN opened at $100.90 on Friday. The business’s 50-day moving average price is $96.90 and its 200 day moving average price is $81.16. Northeast Bank has a 1-year low of $49.07 and a 1-year high of $105.44.

Northeast Bank (NASDAQ:NBN) last released its earnings results on Tuesday, October 29th. The financial services provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.34. The firm had revenue of $73.97 million during the quarter, compared to analysts’ expectations of $38.20 million. During the same period last year, the business earned $2.01 earnings per share.

Northeast Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a $0.01 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. Northeast Bank’s payout ratio is currently 0.52%.

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.