Invesco Ltd. Buys 14,427 Shares of Northeast Bank (NASDAQ:NBN)

Invesco Ltd. boosted its position in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,324 shares of the financial services provider's stock after purchasing an additional 14,427 shares during the period. Invesco Ltd. owned 1.20% of Northeast Bank worth $9,019,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its position in shares of Northeast Bank by 57.6% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 118 shares during the period. R Squared Ltd bought a new stake in Northeast Bank during the fourth quarter worth about $41,000. KLP Kapitalforvaltning AS bought a new position in Northeast Bank in the 4th quarter valued at $128,000. Federated Hermes Inc. lifted its position in Northeast Bank by 44.4% during the 4th quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider's stock worth $143,000 after buying an additional 479 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of Northeast Bank by 121.2% during the fourth quarter. Quantbot Technologies LP now owns 2,190 shares of the financial services provider's stock worth $201,000 after purchasing an additional 1,200 shares in the last quarter.

Analyst Ratings Changes

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

Northeast Bank Trading Down 0.9 %

Shares of NASDAQ NBN traded down $0.86 during mid-day trading on Friday, reaching $91.10. 24,134 shares of the company's stock were exchanged, compared to its average volume of 42,920. The business has a fifty day simple moving average of $91.59 and a 200 day simple moving average of $94.53. Northeast Bank has a twelve month low of $51.50 and a twelve month high of $110.35. The firm has a market capitalization of $747.57 million, a price-to-earnings ratio of 10.61 and a beta of 0.85.

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

Northeast Bank Dividend Announcement

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

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.