Boston Partners Cuts Stock Position in Northeast Bank (NASDAQ:NBN)

Boston Partners lowered its position in Northeast Bank (NASDAQ:NBN - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 263,977 shares of the financial services provider's stock after selling 11,690 shares during the quarter. Boston Partners owned about 3.22% of Northeast Bank worth $24,615,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NBN. Picton Mahoney Asset Management lifted its stake in shares of Northeast Bank by 57.6% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider's stock worth $30,000 after acquiring an additional 118 shares during the last quarter. R Squared Ltd bought a new stake in shares of Northeast Bank during the fourth quarter worth $41,000. Quantbot Technologies LP purchased a new stake in shares of Northeast Bank during the third quarter valued at $76,000. BNP Paribas Financial Markets boosted its stake 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 valued at $127,000 after purchasing an additional 442 shares during the period. Finally, AlphaQuest LLC grew its holdings in shares of Northeast Bank by 12,410.5% in the fourth quarter. AlphaQuest LLC now owns 2,377 shares of the financial services provider's stock worth $218,000 after purchasing an additional 2,358 shares during the last quarter.

Northeast Bank Stock Performance

NBN traded down $0.74 during trading on Tuesday, hitting $94.16. 27,537 shares of the stock were exchanged, compared to its average volume of 41,322. The firm has a 50 day simple moving average of $99.07 and a 200 day simple moving average of $92.08. The firm has a market cap of $772.68 million, a price-to-earnings ratio of 10.96 and a beta of 1.06. Northeast Bank has a 1 year low of $50.02 and a 1 year high of $110.35.

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Northeast Bank (NASDAQ:NBN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $2.74 EPS for the quarter, beating the consensus estimate 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. Stockholders of record on Tuesday, February 18th were issued a $0.01 dividend. The ex-dividend date 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%.

Analysts Set New Price Targets

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