Northeast Bank (NASDAQ:NBN) Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System boosted its position in Northeast Bank (NASDAQ:NBN - Free Report) by 1,325.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,885 shares of the financial services provider's stock after buying an additional 6,402 shares during the period. California State Teachers Retirement System owned approximately 0.08% of Northeast Bank worth $632,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management increased its stake in Northeast Bank by 57.6% in the 4th 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 in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Northeast Bank during the 4th quarter worth approximately $127,000. KLP Kapitalforvaltning AS acquired a new stake in Northeast Bank during the 4th quarter valued at $128,000. Federated Hermes Inc. increased its position in Northeast Bank by 44.4% during the fourth 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 in the last quarter. Finally, Comerica Bank acquired a new position in shares of Northeast Bank in the fourth quarter worth $192,000.

Northeast Bank Stock Performance

NBN stock traded down $0.11 during trading on Thursday, hitting $85.31. The stock had a trading volume of 66,241 shares, compared to its average volume of 45,680. Northeast Bank has a 1-year low of $54.50 and a 1-year high of $110.35. The stock has a market cap of $700.05 million, a price-to-earnings ratio of 9.93 and a beta of 0.58. The company's 50 day moving average price is $85.28 and its two-hundred day moving average price is $92.92.

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 company had revenue of $52.57 million during the quarter, compared to analysts' expectations of $50.09 million.

Northeast Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. The ex-dividend date of this dividend was Tuesday, May 13th. Northeast Bank's dividend payout ratio (DPR) is currently 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.