BNP Paribas Financial Markets Acquires 4,983 Shares of 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 13F 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 about 0.08% of Northeast Bank worth $608,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NBN. Comerica Bank bought a new position in shares of Northeast Bank during the 4th quarter valued at about $192,000. PDT Partners LLC acquired a new stake in Northeast Bank during the fourth quarter valued at approximately $207,000. Northern Trust Corp boosted its holdings in Northeast Bank by 10.3% during the fourth quarter. Northern Trust Corp now owns 66,139 shares of the financial services provider's stock worth $6,067,000 after buying an additional 6,160 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Northeast Bank in the fourth quarter worth approximately $219,000. Finally, Tudor Investment Corp ET AL acquired a new position in Northeast Bank in the fourth quarter worth approximately $2,028,000.

Analysts Set New Price Targets

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 note on Monday, February 10th.

Northeast Bank Price Performance

NASDAQ NBN traded up $0.62 on Thursday, hitting $84.20. 30,275 shares of the company were exchanged, compared to its average volume of 43,816. Northeast Bank has a twelve month low of $54.50 and a twelve month high of $110.35. The firm has a market capitalization of $690.95 million, a P/E ratio of 9.80 and a beta of 0.60. The company's 50 day moving average price is $86.59 and its 200-day moving average price is $93.97.

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 for the quarter, missing the consensus estimate of $2.83 by ($0.60). The firm had revenue of $52.57 million for the quarter, compared to analyst estimates of $50.09 million.

Northeast Bank Announces Dividend

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