Northeast Bank (NASDAQ:NBN) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 37.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,279 shares of the financial services provider's stock after selling 18,298 shares during the quarter. Franklin Resources Inc. owned about 0.37% of Northeast Bank worth $2,777,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NBN. Picton Mahoney Asset Management increased its holdings 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 buying an additional 118 shares during the last quarter. R Squared Ltd purchased a new position in shares of Northeast Bank in the 4th quarter worth about $41,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Northeast Bank during the 4th quarter worth about $128,000. BNP Paribas Financial Markets increased its position in Northeast Bank by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider's stock worth $127,000 after purchasing an additional 442 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in Northeast Bank by 121.2% in the fourth quarter. Quantbot Technologies LP now owns 2,190 shares of the financial services provider's stock valued at $201,000 after buying an additional 1,200 shares during the period.

Northeast Bank Stock Performance

Shares of NBN stock traded up $1.59 during trading hours on Friday, reaching $89.06. The company had a trading volume of 47,418 shares, compared to its average volume of 42,686. The company has a market capitalization of $730.83 million, a P/E ratio of 10.37 and a beta of 0.85. Northeast Bank has a twelve month low of $50.25 and a twelve month high of $110.35. The stock's fifty day simple moving average is $93.35 and its 200 day simple moving average is $93.93.

Northeast Bank (NASDAQ:NBN - Get Free Report) last issued 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 company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Tuesday, February 18th. Northeast Bank's dividend payout ratio (DPR) is 0.47%.

Analyst Upgrades and Downgrades

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 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.