Royce & Associates LP Makes New Investment in Northeast Bank (NASDAQ:NBN)

Royce & Associates LP acquired a new position in shares of Northeast Bank (NASDAQ:NBN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,545 shares of the financial services provider’s stock, valued at approximately $4,820,000. Royce & Associates LP owned 0.64% of Northeast Bank at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NBN. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Northeast Bank during the third quarter worth about $562,000. Foundry Partners LLC boosted its position in shares of Northeast Bank by 0.9% during the third quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider’s stock worth $5,717,000 after buying an additional 695 shares during the period. Quantbot Technologies LP acquired a new position in shares of Northeast Bank during the third quarter worth about $76,000. BNP Paribas Financial Markets boosted its position in shares of Northeast Bank by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock worth $127,000 after buying an additional 442 shares during the period. Finally, State Street Corp boosted its position in Northeast Bank by 6.3% during the third quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock valued at $11,152,000 after purchasing an additional 8,518 shares during the last quarter.

Northeast Bank Stock Performance

Shares of NASDAQ NBN opened at $94.20 on Thursday. The stock has a 50 day moving average price of $99.01 and a 200 day moving average price of $91.42. Northeast Bank has a 52 week low of $50.02 and a 52 week high of $110.35. The stock has a market capitalization of $773.01 million, a PE ratio of 10.97 and a beta of 1.06.

Northeast Bank (NASDAQ:NBN) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.18.

Northeast Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Northeast Bank’s dividend payout ratio is currently 0.47%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their price target 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.

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.