Northeast Bank (NASDAQ:NBN) Shares Bought by Western Standard LLC

Western Standard LLC increased its holdings in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 31.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,858 shares of the financial services provider's stock after buying an additional 10,742 shares during the quarter. Northeast Bank comprises approximately 2.7% of Western Standard LLC's portfolio, making the stock its 15th biggest holding. Western Standard LLC owned approximately 0.55% of Northeast Bank worth $4,115,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NBN. Squarepoint Ops LLC purchased a new position in shares of Northeast Bank in the 4th quarter worth about $731,000. Tidal Investments LLC purchased a new position in shares of Northeast Bank in the 4th quarter worth about $263,000. Point72 Asset Management L.P. purchased a new position in shares of Northeast Bank in the 4th quarter worth about $127,000. Nuveen Asset Management LLC raised its holdings in shares of Northeast Bank by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 57,181 shares of the financial services provider's stock worth $5,245,000 after purchasing an additional 238 shares during the period. Finally, Occudo Quantitative Strategies LP raised its holdings in shares of Northeast Bank by 136.9% in the 4th quarter. Occudo Quantitative Strategies LP now owns 6,226 shares of the financial services provider's stock worth $571,000 after purchasing an additional 3,598 shares during the period.

Wall Street Analyst Weigh In

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

Northeast Bank Trading Down 1.3%

Shares of Northeast Bank stock traded down $1.10 during trading hours on Friday, reaching $81.90. The stock had a trading volume of 39,609 shares, compared to its average volume of 43,584. The firm has a 50 day simple moving average of $87.35 and a two-hundred day simple moving average of $94.42. The firm has a market capitalization of $672.07 million, a price-to-earnings ratio of 9.53 and a beta of 0.60. Northeast Bank has a 1 year low of $54.50 and a 1 year high of $110.35.

Northeast Bank (NASDAQ:NBN - Get Free Report) last announced 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 company 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 announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. Northeast Bank's payout ratio is currently 0.44%.

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.