Northeast Bank (NASDAQ:NBN) Holdings Raised by Picton Mahoney Asset Management

Picton Mahoney Asset Management grew its position in Northeast Bank (NASDAQ:NBN) by 57.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 323 shares of the financial services provider’s stock after acquiring an additional 118 shares during the quarter. Picton Mahoney Asset Management’s holdings in Northeast Bank were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new position in Northeast Bank during the 4th quarter valued at approximately $41,000. Quantbot Technologies LP acquired a new position in Northeast Bank during the 3rd quarter valued at approximately $76,000. BNP Paribas Financial Markets boosted its position in Northeast Bank by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 442 shares during the period. AlphaQuest LLC boosted its position in Northeast Bank by 12,410.5% during the 4th quarter. AlphaQuest LLC now owns 2,377 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 2,358 shares during the period. Finally, Hohimer Wealth Management LLC acquired a new position in Northeast Bank during the 3rd quarter valued at approximately $244,000.

Northeast Bank Stock Performance

Shares of NBN stock opened at $91.79 on Tuesday. Northeast Bank has a 1 year low of $49.97 and a 1 year high of $110.35. The stock has a fifty day moving average of $99.00 and a two-hundred day moving average of $91.24. The firm has a market capitalization of $753.23 million, a PE ratio of 10.69 and a beta of 1.06.

Northeast Bank (NASDAQ:NBN) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.18.

Northeast Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Northeast Bank’s dividend payout ratio (DPR) is presently 0.47%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their price objective on 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.