7,965 Shares in Northeast Bank (NASDAQ:NBN) Bought by Squarepoint Ops LLC

Squarepoint Ops LLC bought a new position in shares of Northeast Bank (NASDAQ:NBN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,965 shares of the financial services provider's stock, valued at approximately $731,000. Squarepoint Ops LLC owned 0.10% of Northeast Bank at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its holdings 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 valued at $30,000 after purchasing an additional 118 shares during the period. R Squared Ltd acquired a new stake in shares of Northeast Bank in the fourth quarter valued at approximately $41,000. Point72 Asset Management L.P. bought a new stake in shares of Northeast Bank in the fourth quarter valued at approximately $127,000. KLP Kapitalforvaltning AS acquired a new stake in Northeast Bank during the fourth quarter worth approximately $128,000. Finally, Federated Hermes Inc. grew its position 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 worth $143,000 after buying an additional 479 shares in the last quarter.

Northeast Bank Price Performance

NBN stock traded up $2.53 during midday trading on Friday, reaching $83.18. The company had a trading volume of 72,111 shares, compared to its average volume of 44,769. Northeast Bank has a 1-year low of $54.50 and a 1-year high of $110.35. The stock has a 50 day moving average price of $85.47 and a 200-day moving average price of $93.31. The company has a market capitalization of $682.58 million, a price-to-earnings ratio of 9.68 and a beta of 0.60.

Northeast Bank (NASDAQ:NBN - Get Free Report) last issued its earnings results 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 firm had revenue of $52.57 million for the quarter, compared to the consensus estimate of $50.09 million.

Northeast Bank Dividend Announcement

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

Analyst Ratings Changes

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