Dimensional Fund Advisors LP Reduces Stock Position in Northeast Bank (NASDAQ:NBN)

Dimensional Fund Advisors LP lowered its holdings in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 385,966 shares of the financial services provider's stock after selling 34,979 shares during the quarter. Dimensional Fund Advisors LP owned 4.70% of Northeast Bank worth $35,405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of NBN. Picton Mahoney Asset Management boosted its stake in 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 buying an additional 118 shares during the period. R Squared Ltd purchased a new stake in shares of Northeast Bank during the fourth quarter valued at $41,000. KLP Kapitalforvaltning AS bought a new position in shares of Northeast Bank in the fourth quarter worth about $128,000. Federated Hermes Inc. increased its stake in Northeast Bank by 44.4% in the 4th quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider's stock worth $143,000 after buying an additional 479 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in Northeast Bank by 121.2% during the 4th quarter. Quantbot Technologies LP now owns 2,190 shares of the financial services provider's stock valued at $201,000 after buying an additional 1,200 shares in the last quarter.

Northeast Bank Trading Down 0.7 %

Shares of NASDAQ:NBN traded down $0.56 on Wednesday, reaching $82.91. The company had a trading volume of 27,988 shares, compared to its average volume of 43,551. The firm has a market capitalization of $680.36 million, a PE ratio of 9.65 and a beta of 0.60. Northeast Bank has a 52-week low of $53.69 and a 52-week high of $110.35. The firm's 50 day simple moving average is $89.53 and its 200-day simple moving average is $94.74.

Northeast Bank (NASDAQ:NBN - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.60). The firm had revenue of $52.57 million during the quarter, compared to analysts' expectations 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 dividend yield of 0.05%. The ex-dividend date is Tuesday, May 13th. Northeast Bank's payout ratio is currently 0.44%.

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 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.