Congress Wealth Management LLC DE Invests $3.18 Million in Northeast Bank (NASDAQ:NBN)

Congress Wealth Management LLC DE acquired a new position in Northeast Bank (NASDAQ:NBN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 34,702 shares of the financial services provider's stock, valued at approximately $3,183,000. Congress Wealth Management LLC DE owned approximately 0.42% of Northeast Bank as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Royce & Associates LP bought a new stake in Northeast Bank during the fourth quarter valued at approximately $4,820,000. SG Americas Securities LLC lifted its position in Northeast Bank by 151.9% during the fourth quarter. SG Americas Securities LLC now owns 6,031 shares of the financial services provider's stock valued at $553,000 after purchasing an additional 3,637 shares in the last quarter. JPMorgan Chase & Co. increased its position in Northeast Bank by 136.3% in the third quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider's stock worth $2,136,000 after buying an additional 15,975 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Northeast Bank by 51.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,072 shares of the financial services provider's stock valued at $1,016,000 after buying an additional 3,780 shares in the last quarter. Finally, Swiss National Bank purchased a new stake in Northeast Bank in the 4th quarter worth approximately $1,330,000.

Northeast Bank Stock Down 2.5 %

Northeast Bank stock traded down $2.30 during midday trading on Friday, reaching $91.14. 20,929 shares of the stock traded hands, compared to its average volume of 41,925. Northeast Bank has a 12 month low of $50.02 and a 12 month high of $110.35. The stock's fifty day moving average is $98.54 and its 200-day moving average is $92.62. The stock has a market cap of $747.89 million, a P/E ratio of 10.61 and a beta of 1.06.

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Northeast Bank (NASDAQ:NBN - Get Free Report) last announced its earnings results 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued 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 yield of 0.04%. Northeast Bank's payout ratio is presently 0.47%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price target on Northeast Bank from $102.00 to $115.00 and gave the stock a "market perform" rating in a research note 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.