Two Sigma Advisers LP Reduces Position in Northeast Bank (NASDAQ:NBN)

Two Sigma Advisers LP lowered its position in Northeast Bank (NASDAQ:NBN - Free Report) by 52.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,700 shares of the financial services provider's stock after selling 5,100 shares during the period. Two Sigma Advisers LP owned approximately 0.06% of Northeast Bank worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Polaris Capital Management LLC increased its position in shares of Northeast Bank by 3.5% during the fourth quarter. Polaris Capital Management LLC now owns 49,600 shares of the financial services provider's stock worth $4,550,000 after acquiring an additional 1,700 shares during the period. Bank of New York Mellon Corp increased its position in shares of Northeast Bank by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 47,873 shares of the financial services provider's stock worth $4,391,000 after acquiring an additional 1,498 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Northeast Bank by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,875 shares of the financial services provider's stock worth $1,823,000 after acquiring an additional 892 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Northeast Bank during the fourth quarter worth approximately $294,000. Finally, AlphaQuest LLC increased its position in shares of Northeast Bank by 12,410.5% during the fourth quarter. AlphaQuest LLC now owns 2,377 shares of the financial services provider's stock worth $218,000 after acquiring an additional 2,358 shares during the period.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their target price on shares of Northeast Bank from $102.00 to $115.00 and gave the stock a "market perform" rating in a research report on Monday, February 10th.

Northeast Bank Trading Up 3.1%

Shares of NBN stock traded up $2.53 during trading hours on Friday, reaching $83.18. 72,111 shares of the company's stock were exchanged, compared to its average volume of 44,929. The stock's 50 day moving average is $85.32 and its 200-day moving average is $93.17. The company has a market cap of $682.58 million, a price-to-earnings ratio of 9.68 and a beta of 0.58. Northeast Bank has a fifty-two week low of $54.50 and a fifty-two week high of $110.35.

Northeast Bank (NASDAQ:NBN - Get Free Report) last issued its quarterly earnings results 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 analyst estimates of $50.09 million.

Northeast Bank Dividend Announcement

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