SG Americas Securities LLC Grows Position in Northeast Bank (NASDAQ:NBN)

SG Americas Securities LLC grew its holdings in shares of Northeast Bank (NASDAQ:NBN) by 151.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,031 shares of the financial services provider’s stock after purchasing an additional 3,637 shares during the quarter. SG Americas Securities LLC owned about 0.07% of Northeast Bank worth $553,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NBN. Geode Capital Management LLC increased its position in shares of Northeast Bank by 0.5% during the third 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 during the period. State Street Corp grew its stake in 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 acquiring an additional 8,518 shares in the last quarter. Foundry Partners LLC grew its stake 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 valued at $5,717,000 after acquiring an additional 695 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Northeast Bank by 136.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider’s stock worth $2,136,000 after acquiring an additional 15,975 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Northeast Bank by 251.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 21,554 shares of the financial services provider’s stock valued at $1,662,000 after purchasing an additional 15,422 shares during the period.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods began coverage on shares of 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 Trading Down 0.3 %

Shares of NBN opened at $101.20 on Friday. The stock has a 50-day moving average price of $97.11 and a 200-day moving average price of $83.97. The company has a market cap of $830.85 million, a PE ratio of 13.14 and a beta of 1.08. Northeast Bank has a 12-month low of $49.07 and a 12-month high of $105.44.

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

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.