Citadel Advisors LLC Makes New Investment in Northeast Bank (NASDAQ:NBN)

Citadel Advisors LLC purchased a new position in Northeast Bank (NASDAQ:NBN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 33,949 shares of the financial services provider's stock, valued at approximately $3,114,000. Citadel Advisors LLC owned about 0.41% of Northeast Bank as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NBN. Royce & Associates LP purchased a new stake in Northeast Bank in the fourth quarter valued at approximately $4,820,000. Raymond James Financial Inc. purchased a new stake in Northeast Bank in the 4th quarter valued at $294,000. SG Americas Securities LLC grew its position in 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 worth $553,000 after purchasing an additional 3,637 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Northeast Bank by 136.3% in the third quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider's stock valued at $2,136,000 after buying an additional 15,975 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Northeast Bank by 17.2% in the fourth quarter. Invesco Ltd. now owns 98,324 shares of the financial services provider's stock valued at $9,019,000 after buying an additional 14,427 shares during the last quarter.

Analysts Set New Price Targets

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 research report on Monday, February 10th.

Northeast Bank Price Performance

NASDAQ:NBN opened at $85.25 on Wednesday. The firm has a market cap of $699.56 million, a price-to-earnings ratio of 9.92 and a beta of 0.60. The firm's fifty day moving average price is $87.93 and its 200 day moving average price is $94.66. Northeast Bank has a 1-year low of $54.50 and a 1-year high of $110.35.

Northeast Bank (NASDAQ:NBN - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share (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 the consensus estimate of $50.09 million.

Northeast Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. Northeast Bank's dividend payout ratio (DPR) is presently 0.44%.

About Northeast Bank

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.

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