Occudo Quantitative Strategies LP Raises Stake in Northeast Bank (NASDAQ:NBN)

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

A number of other large investors also recently modified their holdings of NBN. Picton Mahoney Asset Management increased its position in shares of Northeast Bank by 57.6% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 118 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Northeast Bank in the 4th quarter valued at approximately $41,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Northeast Bank in the 4th quarter valued at approximately $128,000. Federated Hermes Inc. increased its position in shares of Northeast Bank by 44.4% in the 4th 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 stake in shares of Northeast Bank in the 4th quarter valued at approximately $192,000.

Northeast Bank Price Performance

Shares of Northeast Bank stock traded down $0.92 during trading hours on Friday, hitting $85.41. The company had a trading volume of 36,234 shares, compared to its average volume of 43,915. The company's 50-day moving average is $88.13 and its two-hundred day moving average is $94.68. Northeast Bank has a twelve month low of $54.50 and a twelve month high of $110.35. The company has a market cap of $700.87 million, a P/E ratio of 9.94 and a beta of 0.60.

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

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Northeast Bank from $102.00 to $115.00 and gave the company 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.