Northern Trust Corp Acquires 6,160 Shares of Northeast Bank (NASDAQ:NBN)

Northern Trust Corp boosted its holdings in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,139 shares of the financial services provider's stock after purchasing an additional 6,160 shares during the period. Northern Trust Corp owned approximately 0.81% of Northeast Bank worth $6,067,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NBN. The Manufacturers Life Insurance Company purchased a new position in shares of Northeast Bank during the fourth quarter valued at $219,000. Tudor Investment Corp ET AL purchased a new stake in Northeast Bank in the 4th quarter worth about $2,028,000. Aquatic Capital Management LLC acquired a new stake in Northeast Bank during the 4th quarter worth about $342,000. Price T Rowe Associates Inc. MD purchased a new position in Northeast Bank during the 4th quarter valued at about $250,000. Finally, Jump Financial LLC increased its holdings in shares of Northeast Bank by 20.8% in the 4th quarter. Jump Financial LLC now owns 3,705 shares of the financial services provider's stock valued at $340,000 after purchasing an additional 638 shares during the period.

Northeast Bank Trading Down 1.3%

NASDAQ:NBN traded down $1.10 on Monday, hitting $81.90. The company's stock had a trading volume of 39,609 shares, compared to its average volume of 43,584. Northeast Bank has a one year low of $54.50 and a one year high of $110.35. The firm has a market capitalization of $672.07 million, a P/E ratio of 9.53 and a beta of 0.60. The stock has a fifty day moving average of $87.11 and a two-hundred day moving average of $94.23.

Northeast Bank (NASDAQ:NBN - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $50.09 million.

Northeast Bank Dividend Announcement

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

Analyst Upgrades and Downgrades

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