Tudor Investment Corp ET AL Purchases New Holdings in Northeast Bank (NASDAQ:NBN)

Tudor Investment Corp ET AL purchased a new stake in shares of Northeast Bank (NASDAQ:NBN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 22,107 shares of the financial services provider's stock, valued at approximately $2,028,000. Tudor Investment Corp ET AL owned about 0.27% of Northeast Bank at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Picton Mahoney Asset Management grew its position in shares of 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 purchasing an additional 118 shares in the last quarter. R Squared Ltd purchased a new position in shares of Northeast Bank during the fourth quarter worth about $41,000. KLP Kapitalforvaltning AS bought a new position in shares of Northeast Bank in the fourth quarter worth approximately $128,000. Federated Hermes Inc. raised its stake in Northeast Bank by 44.4% in 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 in the last quarter. Finally, Quantbot Technologies LP lifted its position in Northeast Bank by 121.2% during the fourth quarter. Quantbot Technologies LP now owns 2,190 shares of the financial services provider's stock valued at $201,000 after purchasing an additional 1,200 shares during the last quarter.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price target on shares of 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 Stock Down 0.7 %

Shares of NBN traded down $0.56 during trading hours on Wednesday, hitting $82.91. The company had a trading volume of 27,988 shares, compared to its average volume of 43,551. Northeast Bank has a 52-week low of $53.69 and a 52-week high of $110.35. The stock's 50 day moving average price is $89.53 and its 200 day moving average price is $94.74. The firm has a market cap of $680.36 million, a P/E ratio of 9.65 and a beta of 0.60.

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

Northeast Bank Announces Dividend

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

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.