BNP Paribas Financial Markets Acquires 4,983 Shares of Northeast Bank (NASDAQ:NBN)

BNP Paribas Financial Markets increased its stake in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 302.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,630 shares of the financial services provider's stock after acquiring an additional 4,983 shares during the quarter. BNP Paribas Financial Markets owned about 0.08% of Northeast Bank worth $608,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NBN. Picton Mahoney Asset Management grew its position 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 worth $30,000 after purchasing an additional 118 shares during the last quarter. R Squared Ltd bought a new stake in shares of Northeast Bank in the fourth quarter valued at about $41,000. KLP Kapitalforvaltning AS acquired a new stake in Northeast Bank during the fourth quarter worth about $128,000. Federated Hermes Inc. increased its stake 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 valued at $143,000 after acquiring an additional 479 shares during the period. Finally, Comerica Bank bought a new position in Northeast Bank during the fourth quarter valued at about $192,000.

Northeast Bank Stock Up 4.6%

Northeast Bank stock traded up $3.80 on Tuesday, hitting $85.70. The company's stock had a trading volume of 51,098 shares, compared to its average volume of 43,614. Northeast Bank has a one year low of $54.50 and a one year high of $110.35. The firm has a market cap of $703.25 million, a P/E ratio of 9.98 and a beta of 0.60. The company has a fifty day moving average price of $87.11 and a 200-day moving average price of $94.23.

Northeast Bank (NASDAQ:NBN - Get Free Report) last posted its quarterly 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 company had revenue of $52.57 million for the quarter, compared to analysts' expectations of $50.09 million.

Northeast Bank Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price objective on Northeast Bank from $102.00 to $115.00 and gave the stock a "market perform" rating in a research 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.