Northeast Bank (NASDAQ:NBN) Short Interest Down 17.8% in February

Northeast Bank (NASDAQ:NBN) saw a large drop in short interest in February. As of February 15th, there was short interest totalling 84,200 shares, a drop of 17.8% from the January 31st total of 102,400 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily volume of 53,000 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted 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 report on Monday, February 10th.

Northeast Bank Price Performance

Shares of NBN stock traded down $0.74 during trading on Wednesday, hitting $95.23. 36,177 shares of the stock traded hands, compared to its average volume of 48,533. The firm has a market capitalization of $781.46 million, a P/E ratio of 11.09 and a beta of 1.06. Northeast Bank has a 52-week low of $49.07 and a 52-week high of $110.35. The firm’s fifty day moving average price is $99.10 and its 200-day moving average price is $89.77.

Northeast Bank (NASDAQ:NBN) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $2.74 EPS for the quarter, topping the consensus estimate 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. Stockholders of record on Tuesday, February 18th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Tuesday, February 18th. Northeast Bank’s dividend payout ratio is currently 0.47%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NBN. Vanguard Group Inc. increased its holdings in Northeast Bank by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider’s stock worth $35,132,000 after purchasing an additional 19,279 shares during the period. American Century Companies Inc. increased its stake in shares of Northeast Bank by 17.1% during the fourth quarter. American Century Companies Inc. now owns 172,538 shares of the financial services provider’s stock worth $15,827,000 after buying an additional 25,220 shares during the period. Geode Capital Management LLC raised its holdings in Northeast Bank by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 158,171 shares of the financial services provider’s stock valued at $14,513,000 after acquiring an additional 4,701 shares in the last quarter. State Street Corp lifted its stake in Northeast Bank by 6.3% in 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 during the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in Northeast Bank by 9.5% during the 4th quarter. Kennedy Capital Management LLC now owns 141,994 shares of the financial services provider’s stock worth $13,025,000 after acquiring an additional 12,301 shares in the last quarter.

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.