Balyasny Asset Management L.P. Takes $585,000 Position in Northeast Bank (NASDAQ:NBN)

Balyasny Asset Management L.P. purchased a new position in Northeast Bank (NASDAQ:NBN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 6,372 shares of the financial services provider's stock, valued at approximately $585,000. Balyasny Asset Management L.P. owned 0.08% of Northeast Bank as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NBN. Picton Mahoney Asset Management increased its position 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 valued at $30,000 after purchasing an additional 118 shares during the period. R Squared Ltd bought a new stake in shares of Northeast Bank during the fourth quarter valued at approximately $41,000. KLP Kapitalforvaltning AS bought a new stake in shares of Northeast Bank during the fourth quarter valued at approximately $128,000. Federated Hermes Inc. increased its position in shares of Northeast Bank by 44.4% during the fourth quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider's stock valued at $143,000 after purchasing an additional 479 shares during the period. Finally, Comerica Bank acquired a new stake in Northeast Bank in the 4th quarter valued at $192,000.

Northeast Bank Trading Down 1.1%

NBN stock traded down $0.92 during trading on Friday, hitting $85.41. The company had a trading volume of 36,234 shares, compared to its average volume of 43,915. The company has a fifty day moving average price of $88.13 and a two-hundred day moving average price of $94.70. The company has a market cap of $700.87 million, a P/E ratio of 9.94 and a beta of 0.60. Northeast Bank has a fifty-two week low of $54.50 and a fifty-two week high of $110.35.

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

Northeast Bank Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.