Cubist Systematic Strategies LLC Buys 14,303 Shares of Northeast Bank (NASDAQ:NBN)

Cubist Systematic Strategies LLC increased its position in Northeast Bank (NASDAQ:NBN - Free Report) by 283.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,341 shares of the financial services provider's stock after acquiring an additional 14,303 shares during the period. Cubist Systematic Strategies LLC owned about 0.24% of Northeast Bank worth $1,774,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Northeast Bank by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider's stock worth $35,132,000 after acquiring an additional 19,279 shares during the period. American Century Companies Inc. increased its stake in shares of Northeast Bank by 17.1% during the fourth quarter. American Century Companies Inc. now owns 172,538 shares of the financial services provider's stock worth $15,827,000 after purchasing an additional 25,220 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Northeast Bank by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 158,171 shares of the financial services provider's stock valued at $14,513,000 after purchasing an additional 4,701 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of Northeast Bank by 9.5% in the 4th quarter. Kennedy Capital Management LLC now owns 141,994 shares of the financial services provider's stock worth $13,025,000 after acquiring an additional 12,301 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Northeast Bank by 17.2% during the 4th quarter. Invesco Ltd. now owns 98,324 shares of the financial services provider's stock worth $9,019,000 after buying an additional 14,427 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price objective on shares of 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 Trading Down 1.1%

NASDAQ NBN traded down $0.92 during trading hours on Friday, reaching $85.41. 36,234 shares of the company traded hands, compared to its average volume of 43,915. The company has a 50 day moving average of $88.13 and a two-hundred day moving average of $94.74. Northeast Bank has a 12 month low of $54.50 and a 12 month high of $110.35. The stock has a market capitalization of $700.87 million, a PE ratio of 9.94 and a beta of 0.60.

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 for the quarter, compared to analysts' expectations of $50.09 million.

Northeast Bank Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date is Tuesday, May 13th. Northeast Bank's dividend payout ratio (DPR) is presently 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.