Legal & General Group Plc Boosts Holdings in Northeast Bank (NASDAQ:NBN)

Legal & General Group Plc boosted its holdings in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 852.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,819 shares of the financial services provider's stock after acquiring an additional 5,208 shares during the quarter. Legal & General Group Plc owned 0.07% of Northeast Bank worth $534,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Northeast Bank by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider's stock worth $35,132,000 after acquiring an additional 19,279 shares in the last quarter. American Century Companies Inc. grew its stake in 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 acquiring an additional 25,220 shares during the period. Geode Capital Management LLC increased its holdings in shares of Northeast Bank by 3.1% during 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 acquiring an additional 4,701 shares in the last quarter. Invesco Ltd. raised its position in shares of Northeast Bank by 17.2% during the fourth quarter. Invesco Ltd. now owns 98,324 shares of the financial services provider's stock worth $9,019,000 after purchasing an additional 14,427 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Northeast Bank by 113.8% in the 4th quarter. JPMorgan Chase & Co. now owns 59,222 shares of the financial services provider's stock worth $5,432,000 after purchasing an additional 31,523 shares in the last quarter.

Northeast Bank Trading Up 0.4 %

Northeast Bank stock traded up $0.32 during trading on Monday, hitting $83.89. 3,934 shares of the company were exchanged, compared to its average volume of 45,558. Northeast Bank has a 52 week low of $53.69 and a 52 week high of $110.35. The company has a market capitalization of $688.40 million, a P/E ratio of 9.77 and a beta of 0.60. The business's 50 day moving average is $90.15 and its 200 day moving average is $94.84.

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

Northeast Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. The ex-dividend date of this dividend is Tuesday, May 13th. Northeast Bank's dividend payout ratio is presently 0.44%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted 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 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.