Aquatic Capital Management LLC Invests $342,000 in Northeast Bank (NASDAQ:NBN)

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

Other hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management increased its holdings in shares of Northeast Bank by 57.6% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider's stock worth $30,000 after purchasing an additional 118 shares during the period. R Squared Ltd acquired a new position in Northeast Bank in the 4th quarter valued at approximately $41,000. KLP Kapitalforvaltning AS acquired a new position in Northeast Bank during the 4th quarter worth about $128,000. Federated Hermes Inc. increased its stake in shares of Northeast Bank by 44.4% in the fourth quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider's stock valued at $143,000 after buying an additional 479 shares during the period. Finally, Quantbot Technologies LP lifted its stake in shares of Northeast Bank by 121.2% in the fourth quarter. Quantbot Technologies LP now owns 2,190 shares of the financial services provider's stock worth $201,000 after acquiring an additional 1,200 shares during the period.

Wall Street Analysts Forecast Growth

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

Northeast Bank Price Performance

NASDAQ NBN traded up $0.94 on Thursday, reaching $83.85. 6,890 shares of the company's stock traded hands, compared to its average volume of 43,422. The stock has a 50-day simple moving average of $89.18 and a 200 day simple moving average of $94.66. Northeast Bank has a 12 month low of $53.69 and a 12 month high of $110.35. The stock has a market cap of $688.07 million, a PE ratio of 9.76 and a beta of 0.60.

Northeast Bank (NASDAQ:NBN - Get Free Report) last issued 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 business had revenue of $52.57 million during the quarter, compared to analyst estimates of $50.09 million.

Northeast Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. Northeast Bank's dividend payout ratio is currently 0.44%.

Northeast Bank Company 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.