Northeast Bank (NASDAQ:NBN) Short Interest Update

Northeast Bank (NASDAQ:NBN) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 64,300 shares, a growth of 48.5% from the November 15th total of 43,300 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 55,400 shares, the short-interest ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

NBN has been the topic of several research analyst reports. Keefe, Bruyette & Woods started coverage on shares of Northeast Bank in a research note on Thursday, November 21st. They set a “market perform” rating and a $102.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and issued a $80.00 price objective on shares of Northeast Bank in a research note on Wednesday, September 11th.

Northeast Bank Stock Performance

Shares of Northeast Bank stock traded up $0.38 on Friday, hitting $98.65. 21,176 shares of the company’s stock traded hands, compared to its average volume of 35,334. The firm’s 50-day moving average price is $92.76 and its two-hundred day moving average price is $74.68. Northeast Bank has a one year low of $49.07 and a one year high of $105.44.

Northeast Bank (NASDAQ:NBN) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.34. The company had revenue of $73.97 million during the quarter, compared to the consensus estimate of $38.20 million. During the same period last year, the company earned $2.01 earnings per share.

Northeast Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend was Tuesday, November 12th. Northeast Bank’s payout ratio is currently 0.52%.

Institutional Trading of Northeast Bank

Several institutional investors and hedge funds have recently bought and sold shares of NBN. BNP Paribas Financial Markets boosted its stake in shares of Northeast Bank by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock valued at $127,000 after buying an additional 442 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Northeast Bank by 11.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,268 shares of the financial services provider’s stock valued at $406,000 after buying an additional 520 shares during the period. Foundry Partners LLC grew its stake in shares of Northeast Bank by 0.9% in the third quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider’s stock worth $5,717,000 after purchasing an additional 695 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Northeast Bank by 0.5% in the third quarter. Geode Capital Management LLC now owns 153,470 shares of the financial services provider’s stock valued at $11,840,000 after buying an additional 801 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Northeast Bank during the third quarter worth approximately $76,000.

Northeast Bank Company 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.