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

Balyasny Asset Management L.P. bought a new position in shares of Northeast Bank (NASDAQ:NBN - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 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 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NBN. Barclays PLC grew its position in shares of Northeast Bank by 278.7% during the 3rd quarter. Barclays PLC now owns 8,646 shares of the financial services provider's stock worth $666,000 after buying an additional 6,363 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Northeast Bank by 136.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider's stock valued at $2,136,000 after purchasing an additional 15,975 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Northeast Bank during the 4th quarter valued at about $656,000. SG Americas Securities LLC lifted its holdings in shares of Northeast Bank by 151.9% during the 4th quarter. SG Americas Securities LLC now owns 6,031 shares of the financial services provider's stock valued at $553,000 after purchasing an additional 3,637 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Northeast Bank during the 4th quarter valued at about $41,000.

Analysts Set New Price Targets

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

Northeast Bank Trading Down 1.5%

Shares of NASDAQ:NBN traded down $1.28 during trading on Wednesday, hitting $83.97. 1,031 shares of the company's stock traded hands, compared to its average volume of 43,331. Northeast Bank has a 52 week low of $54.50 and a 52 week high of $110.35. The company has a market cap of $689.06 million, a price-to-earnings ratio of 9.78 and a beta of 0.60. The company has a 50-day moving average price of $87.93 and a 200-day moving average price of $94.66.

Northeast Bank (NASDAQ:NBN - Get Free Report) last released 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 analysts' expectations of $50.09 million.

Northeast Bank Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 0.05%. The ex-dividend date is Tuesday, May 13th. Northeast Bank's payout ratio is 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.