Millennium Management LLC Boosts Stock Position in Northeast Bank (NASDAQ:NBN)

Millennium Management LLC boosted its stake in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 38.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,893 shares of the financial services provider's stock after buying an additional 4,956 shares during the period. Millennium Management LLC owned 0.22% of Northeast Bank worth $1,641,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in 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 buying an additional 19,279 shares during the last quarter. American Century Companies Inc. boosted its stake in 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 buying an additional 25,220 shares during the last quarter. Geode Capital Management LLC raised its position in Northeast Bank by 3.1% in the fourth 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 period. Kennedy Capital Management LLC raised its position in Northeast Bank by 9.5% in the fourth quarter. Kennedy Capital Management LLC now owns 141,994 shares of the financial services provider's stock valued at $13,025,000 after purchasing an additional 12,301 shares during the period. Finally, Invesco Ltd. raised its position in 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 purchasing an additional 14,427 shares during the period.

Northeast Bank Stock Up 3.1%

NASDAQ:NBN traded up $2.53 on Friday, reaching $83.18. The company's stock had a trading volume of 72,111 shares, compared to its average volume of 44,769. Northeast Bank has a 12-month low of $54.50 and a 12-month high of $110.35. The firm has a market cap of $682.58 million, a price-to-earnings ratio of 9.68 and a beta of 0.60. The stock has a 50 day moving average price of $85.47 and a 200 day moving average price of $93.31.

Northeast Bank (NASDAQ:NBN - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $2.23 EPS for the quarter, missing analysts' consensus estimates 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. Northeast Bank's dividend payout ratio is presently 0.44%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their target price 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 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.