Geode Capital Management LLC Buys 4,701 Shares of Northeast Bank (NASDAQ:NBN)

Geode Capital Management LLC increased its holdings in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 158,171 shares of the financial services provider's stock after acquiring an additional 4,701 shares during the quarter. Geode Capital Management LLC owned approximately 1.93% of Northeast Bank worth $14,513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royce & Associates LP bought a new stake in shares of Northeast Bank in the 4th quarter worth approximately $4,820,000. Congress Wealth Management LLC DE purchased a new stake in Northeast Bank in the fourth quarter worth $3,183,000. JPMorgan Chase & Co. raised its stake in shares of 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 buying an additional 31,523 shares during the period. American Century Companies Inc. lifted its position in shares of Northeast Bank by 17.1% during the 4th quarter. American Century Companies Inc. now owns 172,538 shares of the financial services provider's stock valued at $15,827,000 after buying an additional 25,220 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of 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.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price objective on 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 Stock Down 1.2 %

NBN traded down $1.10 on Friday, hitting $90.86. The company's stock had a trading volume of 6,014 shares, compared to its average volume of 42,713. Northeast Bank has a 12 month low of $50.92 and a 12 month high of $110.35. The firm has a market cap of $745.59 million, a P/E ratio of 10.54 and a beta of 0.85. The company's 50 day simple moving average is $91.86 and its 200-day simple moving average is $94.42.

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

Northeast Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $0.01 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 annualized dividend and a yield of 0.04%. Northeast Bank's dividend payout ratio is currently 0.47%.

About Northeast Bank

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.