JPMorgan Chase & Co. Raises Position in Northeast Bank (NASDAQ:NBN)

JPMorgan Chase & Co. raised its stake in shares of Northeast Bank (NASDAQ:NBN) by 136.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,699 shares of the financial services provider’s stock after purchasing an additional 15,975 shares during the period. JPMorgan Chase & Co.’s holdings in Northeast Bank were worth $2,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in shares of Northeast Bank by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock worth $127,000 after buying an additional 442 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Northeast Bank by 11.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,268 shares of the financial services provider’s stock worth $406,000 after buying an additional 520 shares during the period. Foundry Partners LLC raised its holdings in shares of Northeast Bank by 0.9% in 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 during the period. Geode Capital Management LLC raised its holdings in shares of 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 period. Finally, Quantbot Technologies LP purchased a new stake in shares of Northeast Bank in the third quarter worth approximately $76,000.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods began coverage on Northeast Bank in a report on Thursday, November 21st. They issued a “market perform” rating and a $102.00 price target on the stock.

Northeast Bank Stock Performance

Shares of NASDAQ NBN opened at $101.89 on Wednesday. The business’s 50 day moving average price is $96.84 and its 200-day moving average price is $82.01. Northeast Bank has a fifty-two week low of $49.07 and a fifty-two week high of $105.44. The company has a market cap of $836.11 million, a price-to-earnings ratio of 13.23 and a beta of 1.08.

Northeast Bank (NASDAQ:NBN) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.11 earnings per share (EPS) 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 the consensus estimate of $38.20 million. During the same period last year, the company earned $2.01 EPS.

Northeast Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. Northeast Bank’s dividend payout ratio (DPR) is currently 0.52%.

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.