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

Dimensional Fund Advisors LP lessened its stake in Northeast Bank (NASDAQ:NBN - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 385,966 shares of the financial services provider's stock after selling 34,979 shares during the period. Dimensional Fund Advisors LP owned approximately 4.70% of Northeast Bank worth $35,405,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Picton Mahoney Asset Management boosted its holdings in shares of Northeast Bank by 57.6% in 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 last quarter. R Squared Ltd bought a new stake in shares of Northeast Bank during the 4th quarter valued at $41,000. KLP Kapitalforvaltning AS bought a new stake in shares of Northeast Bank during the 4th quarter valued at $128,000. Federated Hermes Inc. raised its holdings 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 purchasing an additional 479 shares during the period. Finally, Quantbot Technologies LP raised its holdings in Northeast Bank by 121.2% in the 4th quarter. Quantbot Technologies LP now owns 2,190 shares of the financial services provider's stock worth $201,000 after purchasing an additional 1,200 shares during the period.

Northeast Bank Stock Performance

Shares of NBN traded down $0.28 during mid-day trading on Friday, reaching $84.87. The stock had a trading volume of 49,049 shares, compared to its average volume of 43,987. The business has a fifty day moving average of $88.68 and a 200 day moving average of $94.73. The firm has a market cap of $696.44 million, a price-to-earnings ratio of 9.88 and a beta of 0.60. Northeast Bank has a 12 month low of $54.29 and a 12 month high of $110.35.

Northeast Bank (NASDAQ:NBN - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.60). The company had revenue of $52.57 million for the quarter, compared to the consensus estimate of $50.09 million.

Northeast Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend 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%.

Wall Street Analysts Forecast Growth

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 report on Monday, February 10th.

Northeast Bank 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.