Aquatic Capital Management LLC Makes New Investment in Northeast Bank (NASDAQ:NBN)

Aquatic Capital Management LLC bought a new position in shares of Northeast Bank (NASDAQ:NBN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,728 shares of the financial services provider's stock, valued at approximately $342,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD bought a new stake in shares of Northeast Bank in the fourth quarter valued at about $250,000. Jump Financial LLC increased its holdings in Northeast Bank by 20.8% in the 4th quarter. Jump Financial LLC now owns 3,705 shares of the financial services provider's stock valued at $340,000 after buying an additional 638 shares during the period. Mariner LLC bought a new position in shares of Northeast Bank during the 4th quarter worth about $234,000. Barclays PLC increased its stake in Northeast Bank by 42.6% in the fourth quarter. Barclays PLC now owns 12,331 shares of the financial services provider's stock valued at $1,131,000 after acquiring an additional 3,685 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in Northeast Bank by 2.9% during the fourth quarter. Sterling Capital Management LLC now owns 6,633 shares of the financial services provider's stock valued at $608,000 after purchasing an additional 187 shares in the last quarter.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their target price on Northeast Bank from $102.00 to $115.00 and gave the stock a "market perform" rating in a research report on Monday, February 10th.

Northeast Bank Stock Performance

Northeast Bank stock traded down $0.47 during trading hours on Wednesday, hitting $83.00. 13,093 shares of the stock were exchanged, compared to its average volume of 43,413. Northeast Bank has a 12 month low of $53.69 and a 12 month high of $110.35. The business's 50-day moving average is $89.53 and its two-hundred day moving average is $94.74. The stock has a market capitalization of $681.07 million, a P/E ratio of 9.64 and a beta of 0.60.

Northeast Bank (NASDAQ:NBN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.60). The firm had revenue of $52.57 million during the quarter, compared to the consensus estimate of $50.09 million.

Northeast Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.05%. The ex-dividend date of this dividend is Tuesday, May 13th. Northeast Bank's dividend payout ratio (DPR) is presently 0.44%.

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.