Squarepoint Ops LLC Makes New Investment in Northeast Bank (NASDAQ:NBN)

Squarepoint Ops LLC bought a new position in Northeast Bank (NASDAQ:NBN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,965 shares of the financial services provider's stock, valued at approximately $731,000. Squarepoint Ops LLC owned about 0.10% of Northeast Bank at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Northeast Bank by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider's stock valued at $35,132,000 after purchasing an additional 19,279 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Northeast Bank by 17.1% in the fourth quarter. American Century Companies Inc. now owns 172,538 shares of the financial services provider's stock valued at $15,827,000 after buying an additional 25,220 shares during the period. Geode Capital Management LLC increased its stake in shares of Northeast Bank by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 158,171 shares of the financial services provider's stock valued at $14,513,000 after buying an additional 4,701 shares during the period. Kennedy Capital Management LLC raised its holdings in Northeast Bank by 9.5% in the 4th quarter. Kennedy Capital Management LLC now owns 141,994 shares of the financial services provider's stock valued at $13,025,000 after buying an additional 12,301 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Northeast Bank by 17.2% during the 4th quarter. Invesco Ltd. now owns 98,324 shares of the financial services provider's stock worth $9,019,000 after buying an additional 14,427 shares during the period.

Northeast Bank Trading Up 0.2%

NASDAQ:NBN traded up $0.15 during trading hours on Thursday, hitting $80.76. 53,984 shares of the company were exchanged, compared to its average volume of 44,293. The stock has a market capitalization of $662.68 million, a price-to-earnings ratio of 9.37 and a beta of 0.60. Northeast Bank has a one year low of $54.50 and a one year high of $110.35. The company has a fifty day simple moving average of $85.69 and a 200 day simple moving average of $93.43.

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 analysts' consensus estimates of $2.83 by ($0.60). The firm had revenue of $52.57 million during the quarter, compared to the consensus estimate of $50.09 million.

Northeast Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued 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 payout ratio is 0.44%.

Wall Street Analyst Weigh In

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