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

Tudor Investment Corp ET AL bought a new position in shares of Northeast Bank (NASDAQ:NBN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,107 shares of the financial services provider's stock, valued at approximately $2,028,000. Tudor Investment Corp ET AL owned approximately 0.27% of Northeast Bank as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in NBN. Royce & Associates LP acquired a new stake in shares of Northeast Bank in the fourth quarter worth $4,820,000. Congress Wealth Management LLC DE acquired a new stake in Northeast Bank during the 4th quarter worth about $3,183,000. JPMorgan Chase & Co. grew its stake in Northeast Bank by 113.8% during the 4th quarter. JPMorgan Chase & Co. now owns 59,222 shares of the financial services provider's stock valued at $5,432,000 after acquiring an additional 31,523 shares in the last quarter. American Century Companies Inc. grew its stake in Northeast Bank by 17.1% during the 4th 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 in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Northeast Bank by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider's stock valued at $35,132,000 after purchasing an additional 19,279 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted 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 Stock Performance

Shares of NASDAQ:NBN traded down $0.28 during midday trading on Friday, hitting $84.87. 49,049 shares of the stock were exchanged, compared to its average volume of 43,987. The business's fifty day simple moving average is $88.68 and its two-hundred day simple moving average is $94.73. Northeast Bank has a 52-week low of $54.29 and a 52-week high of $110.35. The company has a market capitalization of $696.44 million, a PE ratio of 9.88 and a beta of 0.60.

Northeast Bank (NASDAQ:NBN - Get Free Report) last announced its quarterly 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 during the quarter, compared to analyst estimates of $50.09 million.

Northeast Bank Announces Dividend

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