Occudo Quantitative Strategies LP Grows Position in Northeast Bank (NASDAQ:NBN)

Occudo Quantitative Strategies LP increased its stake in Northeast Bank (NASDAQ:NBN - Free Report) by 136.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,226 shares of the financial services provider's stock after buying an additional 3,598 shares during the period. Occudo Quantitative Strategies LP owned 0.08% of Northeast Bank worth $571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management lifted its position in Northeast Bank by 57.6% during the 4th 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 purchased a new stake in Northeast Bank in the fourth quarter worth about $41,000. KLP Kapitalforvaltning AS bought a new position in shares of Northeast Bank during the fourth quarter valued at approximately $128,000. Federated Hermes Inc. lifted its holdings in shares of Northeast Bank by 44.4% during the fourth quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider's stock valued at $143,000 after purchasing an additional 479 shares during the last quarter. Finally, Comerica Bank purchased a new position in shares of Northeast Bank during the fourth quarter valued at approximately $192,000.

Northeast Bank Stock Performance

Shares of NBN traded down $0.23 during trading hours on Tuesday, hitting $85.31. The company had a trading volume of 4,273 shares, compared to its average volume of 44,532. The stock has a market capitalization of $700.09 million, a price-to-earnings ratio of 9.93 and a beta of 0.60. The firm has a fifty day moving average price of $88.02 and a 200-day moving average price of $94.72. Northeast Bank has a 52-week low of $54.50 and a 52-week high of $110.35.

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 (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 analyst estimates of $50.09 million.

Northeast Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a $0.01 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. Northeast Bank's payout ratio is currently 0.44%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price target on Northeast Bank from $102.00 to $115.00 and gave the stock a "market perform" rating in a research note 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.