Russell Investments Group Ltd. Has $4.64 Million Holdings in Northeast Bank (NASDAQ:NBN)

Russell Investments Group Ltd. lowered its holdings in Northeast Bank (NASDAQ:NBN - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,548 shares of the financial services provider's stock after selling 13,946 shares during the quarter. Russell Investments Group Ltd. owned 0.62% of Northeast Bank worth $4,637,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NBN. BNP Paribas Financial Markets raised its holdings in shares of Northeast Bank by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider's stock worth $127,000 after buying an additional 442 shares in the last quarter. State Street Corp raised its stake in Northeast Bank by 6.3% during the third quarter. State Street Corp now owns 144,591 shares of the financial services provider's stock worth $11,152,000 after acquiring an additional 8,518 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Northeast Bank by 23.6% during the third quarter. Jane Street Group LLC now owns 8,047 shares of the financial services provider's stock valued at $621,000 after acquiring an additional 1,535 shares during the period. Barclays PLC boosted its stake in shares of Northeast Bank by 278.7% in the 3rd quarter. Barclays PLC now owns 8,646 shares of the financial services provider's stock valued at $666,000 after purchasing an additional 6,363 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Northeast Bank by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 153,470 shares of the financial services provider's stock worth $11,840,000 after purchasing an additional 801 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Northeast Bank from $102.00 to $115.00 and gave the company a "market perform" rating in a report on Monday, February 10th.

Northeast Bank Stock Up 1.8 %

NBN traded up $1.59 during trading on Friday, hitting $89.06. The company's stock had a trading volume of 47,418 shares, compared to its average volume of 42,758. The stock has a market capitalization of $730.83 million, a price-to-earnings ratio of 10.37 and a beta of 0.85. The firm's 50 day moving average price is $92.97 and its two-hundred day moving average price is $94.02. Northeast Bank has a 12 month low of $50.45 and a 12 month high of $110.35.

Northeast Bank (NASDAQ:NBN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.18.

Northeast Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Tuesday, February 18th. Northeast Bank's dividend payout ratio (DPR) is presently 0.47%.

About Northeast Bank

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.