Wellington Management Group LLP Lowers Stock Holdings in Northeast Bank (NASDAQ:NBN)

Wellington Management Group LLP decreased its holdings in Northeast Bank (NASDAQ:NBN - Free Report) by 61.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 111,371 shares of the financial services provider's stock after selling 174,207 shares during the quarter. Wellington Management Group LLP owned 1.36% of Northeast Bank worth $10,216,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Picton Mahoney Asset Management raised its holdings in shares of Northeast Bank by 57.6% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 118 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Northeast Bank by 5.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,433 shares of the financial services provider's stock valued at $315,000 after acquiring an additional 186 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Northeast Bank by 2.9% during the fourth quarter. Sterling Capital Management LLC now owns 6,633 shares of the financial services provider's stock valued at $608,000 after acquiring an additional 187 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Northeast Bank by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 57,181 shares of the financial services provider's stock valued at $5,245,000 after acquiring an additional 238 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Northeast Bank by 10.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,982 shares of the financial services provider's stock valued at $365,000 after acquiring an additional 388 shares during the last quarter.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their target price 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 Price Performance

Shares of NASDAQ:NBN traded down $0.93 during midday trading on Wednesday, hitting $80.61. The company had a trading volume of 62,434 shares, compared to its average volume of 44,144. Northeast Bank has a twelve month low of $54.50 and a twelve month high of $110.35. The stock has a market cap of $661.49 million, a price-to-earnings ratio of 9.38 and a beta of 0.60. The business's 50-day simple moving average is $85.90 and its 200-day simple moving average is $93.52.

Northeast Bank (NASDAQ:NBN - Get Free Report) last posted its quarterly 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 company had revenue of $52.57 million during the quarter, compared to analysts' expectations of $50.09 million.

Northeast Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a $0.01 dividend. The ex-dividend date 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%.

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.