Alliancebernstein L.P. Has $4.03 Million Stock Position in Northeast Bank (NASDAQ:NBN)

Alliancebernstein L.P. decreased its stake in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 19.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,981 shares of the financial services provider's stock after selling 10,390 shares during the quarter. Alliancebernstein L.P. owned about 0.54% of Northeast Bank worth $4,034,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Picton Mahoney Asset Management grew its stake in shares of Northeast Bank by 57.6% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider's stock valued at $30,000 after buying an additional 118 shares in the last quarter. R Squared Ltd bought a new stake in Northeast Bank during the fourth quarter worth $41,000. BNP Paribas Financial Markets lifted its stake in 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 acquiring an additional 442 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Northeast Bank in the 4th quarter valued at about $128,000. Finally, Quantbot Technologies LP grew its position in shares of Northeast Bank by 121.2% in the 4th quarter. Quantbot Technologies LP now owns 2,190 shares of the financial services provider's stock valued at $201,000 after acquiring an additional 1,200 shares during the period.

Northeast Bank Stock Performance

NASDAQ:NBN traded up $1.59 during mid-day trading on Friday, hitting $89.06. 47,418 shares of the stock were exchanged, compared to its average volume of 42,758. The firm's 50-day simple moving average is $92.97 and its 200 day simple moving average is $94.02. The stock has a market capitalization of $730.83 million, a price-to-earnings ratio of 10.37 and a beta of 0.85. Northeast Bank has a fifty-two week low of $50.45 and a fifty-two week high of $110.35.

Northeast Bank (NASDAQ:NBN - Get Free Report) last posted its earnings results on Thursday, February 6th. The financial services provider reported $2.74 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.18.

Northeast Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued 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, February 18th. Northeast Bank's dividend payout ratio is currently 0.47%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their target price on shares of Northeast Bank from $102.00 to $115.00 and gave the company a "market perform" rating in a research note on Monday, February 10th.

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.