EAM Investors LLC Trims Stake in Northeast Bank (NASDAQ:NBN)

EAM Investors LLC trimmed its holdings in Northeast Bank (NASDAQ:NBN - Free Report) by 21.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,632 shares of the financial services provider's stock after selling 2,906 shares during the quarter. EAM Investors LLC owned 0.13% of Northeast Bank worth $975,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Royce & Associates LP purchased a new stake in Northeast Bank during the fourth quarter valued at about $4,820,000. Congress Wealth Management LLC DE bought a new position in Northeast Bank during the 4th quarter worth approximately $3,183,000. JPMorgan Chase & Co. lifted its position in Northeast Bank by 113.8% in the fourth quarter. JPMorgan Chase & Co. now owns 59,222 shares of the financial services provider's stock valued at $5,432,000 after purchasing an additional 31,523 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Northeast Bank by 17.1% in the fourth quarter. American Century Companies Inc. now owns 172,538 shares of the financial services provider's stock worth $15,827,000 after purchasing an additional 25,220 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Northeast Bank by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider's stock valued at $35,132,000 after buying an additional 19,279 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Northeast Bank Price Performance

NBN traded up $2.08 during midday trading on Tuesday, reaching $88.79. 5,604 shares of the company's stock traded hands, compared to its average volume of 42,600. Northeast Bank has a 52 week low of $50.92 and a 52 week high of $110.35. The firm has a fifty day moving average of $92.62 and a two-hundred day moving average of $94.37. The stock has a market capitalization of $728.57 million, a price-to-earnings ratio of 10.34 and a beta of 0.85.

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

Northeast Bank Announces Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bank's dividend payout ratio (DPR) is presently 0.47%.

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.