BNP Paribas Financial Markets Increases Position in Northeast Bank (NASDAQ:NBN)

BNP Paribas Financial Markets raised its position in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 302.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,630 shares of the financial services provider's stock after purchasing an additional 4,983 shares during the quarter. BNP Paribas Financial Markets owned 0.08% of Northeast Bank worth $608,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NBN. Royce & Associates LP purchased a new position in Northeast Bank during the fourth quarter valued at $4,820,000. Raymond James Financial Inc. purchased a new position in Northeast Bank during the fourth quarter valued at $294,000. SG Americas Securities LLC lifted its position in shares of Northeast Bank by 151.9% in the fourth quarter. SG Americas Securities LLC now owns 6,031 shares of the financial services provider's stock worth $553,000 after buying an additional 3,637 shares in the last quarter. JPMorgan Chase & Co. increased its position in Northeast Bank by 113.8% in the fourth quarter. JPMorgan Chase & Co. now owns 59,222 shares of the financial services provider's stock worth $5,432,000 after purchasing an additional 31,523 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Northeast Bank by 17.2% in the 4th quarter. Invesco Ltd. now owns 98,324 shares of the financial services provider's stock valued at $9,019,000 after acquiring an additional 14,427 shares during the last quarter.

Northeast Bank Trading Down 0.4%

Shares of NBN stock traded down $0.37 during trading hours on Thursday, reaching $83.21. 852 shares of the company's stock were exchanged, compared to its average volume of 43,583. 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 $682.82 million, a PE ratio of 9.69 and a beta of 0.60. The stock's fifty day moving average price is $86.80 and its two-hundred day moving average price is $94.10.

Northeast Bank (NASDAQ:NBN - Get Free Report) last released its quarterly earnings data 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 business had revenue of $52.57 million during the quarter, compared to analyst estimates of $50.09 million.

Northeast Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bank's dividend payout ratio (DPR) is presently 0.44%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upped their target price on Northeast Bank from $102.00 to $115.00 and gave the company a "market perform" rating in a research note 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.