Legal & General Group Plc Buys 5,208 Shares of Northeast Bank (NASDAQ:NBN)

Legal & General Group Plc grew its position in Northeast Bank (NASDAQ:NBN - Free Report) by 852.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,819 shares of the financial services provider's stock after purchasing an additional 5,208 shares during the quarter. Legal & General Group Plc owned approximately 0.07% of Northeast Bank worth $534,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management boosted its position in shares of Northeast Bank by 57.6% in 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 period. R Squared Ltd bought a new stake in Northeast Bank in the 4th quarter valued at $41,000. KLP Kapitalforvaltning AS acquired a new stake in Northeast Bank in the 4th quarter worth $128,000. Federated Hermes Inc. grew its position in Northeast Bank by 44.4% in the 4th quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider's stock worth $143,000 after purchasing an additional 479 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of Northeast Bank by 121.2% during the 4th quarter. Quantbot Technologies LP now owns 2,190 shares of the financial services provider's stock worth $201,000 after purchasing an additional 1,200 shares during the period.

Northeast Bank Price Performance

Shares of NBN stock opened at $90.00 on Wednesday. Northeast Bank has a one year low of $51.50 and a one year high of $110.35. The stock has a fifty day moving average price of $91.13 and a 200 day moving average price of $94.84. The stock has a market cap of $738.54 million, a P/E ratio of 10.48 and a beta of 0.85.

Northeast Bank (NASDAQ:NBN - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share 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 analyst estimates of $50.09 million.

Northeast Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Northeast Bank's dividend payout ratio is currently 0.47%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their target price on 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 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.

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