Foundry Partners LLC lessened its position in Northeast Bank (NASDAQ:NBN – Get Rating) by 23.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,045 shares of the financial services provider’s stock after selling 23,390 shares during the period. Foundry Partners LLC’s holdings in Northeast Bank were worth $2,628,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NBN. Dimensional Fund Advisors LP increased its holdings in shares of Northeast Bank by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 416,421 shares of the financial services provider’s stock worth $14,042,000 after acquiring an additional 5,077 shares during the period. Invesco Ltd. increased its holdings in shares of Northeast Bank by 683.2% in the 3rd quarter. Invesco Ltd. now owns 62,481 shares of the financial services provider’s stock worth $2,107,000 after acquiring an additional 54,503 shares during the period. Wellington Management Group LLP increased its holdings in shares of Northeast Bank by 10.9% in the 3rd quarter. Wellington Management Group LLP now owns 136,067 shares of the financial services provider’s stock worth $4,589,000 after acquiring an additional 13,408 shares during the period. Two Sigma Advisers LP increased its stake in Northeast Bank by 117.6% during the 3rd quarter. Two Sigma Advisers LP now owns 14,800 shares of the financial services provider’s stock valued at $499,000 after buying an additional 8,000 shares during the period. Finally, Ellsworth Advisors LLC acquired a new position in Northeast Bank during the 4th quarter valued at about $499,000. 50.04% of the stock is currently owned by institutional investors and hedge funds.
Separately, StockNews.com cut shares of Northeast Bank from a “buy” rating to a “hold” rating in a research note on Monday, May 23rd.
Northeast Bank stock opened at $34.07 on Friday. The stock has a market cap of $284.14 million, a price-to-earnings ratio of 5.23 and a beta of 1.37. The company’s 50-day moving average price is $36.54 and its two-hundred day moving average price is $36.17. Northeast Bank has a 52 week low of $28.45 and a 52 week high of $41.05.
Northeast Bank (NASDAQ:NBN – Get Rating) last released its earnings results on Monday, April 25th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.17 by $0.19. The company had revenue of $26.36 million for the quarter, compared to analyst estimates of $25.23 million. During the same period in the previous year, the business posted $4.06 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 18th. Stockholders of record on Wednesday, May 4th were paid a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, May 3rd. This represents a $0.04 annualized dividend and a dividend yield of 0.12%. Northeast Bank’s dividend payout ratio is currently 0.61%.
Northeast Bank Profile (Get Rating)
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.
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