JPMorgan Chase & Co. Purchases 31,523 Shares of Northeast Bank (NASDAQ:NBN)

JPMorgan Chase & Co. raised its stake in Northeast Bank (NASDAQ:NBN - Free Report) by 113.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,222 shares of the financial services provider's stock after acquiring an additional 31,523 shares during the period. JPMorgan Chase & Co. owned about 0.72% of Northeast Bank worth $5,432,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Northeast Bank by 6.3% during the third quarter. State Street Corp now owns 144,591 shares of the financial services provider's stock valued at $11,152,000 after acquiring an additional 8,518 shares during the period. Jane Street Group LLC lifted its stake in Northeast Bank by 23.6% in the third quarter. Jane Street Group LLC now owns 8,047 shares of the financial services provider's stock valued at $621,000 after buying an additional 1,535 shares in the last quarter. Barclays PLC lifted its position in shares of Northeast Bank by 278.7% in the third quarter. Barclays PLC now owns 8,646 shares of the financial services provider's stock worth $666,000 after purchasing an additional 6,363 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Northeast Bank by 0.5% in the third quarter. Geode Capital Management LLC now owns 153,470 shares of the financial services provider's stock worth $11,840,000 after purchasing an additional 801 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in Northeast Bank during the fourth quarter worth $656,000.

Northeast Bank Price Performance

NBN traded up $2.42 on Wednesday, hitting $92.80. 3,094 shares of the stock were exchanged, compared to its average volume of 42,601. Northeast Bank has a 12 month low of $50.92 and a 12 month high of $110.35. The business has a 50-day moving average of $92.34 and a two-hundred day moving average of $94.34. The firm has a market capitalization of $761.52 million, a price-to-earnings ratio of 10.80 and a beta of 0.85.

Northeast Bank (NASDAQ:NBN - Get Free Report) last issued its earnings results on Thursday, February 6th. The financial services provider reported $2.74 earnings per share 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. Stockholders 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 dividend yield of 0.04%. Northeast Bank's dividend payout ratio is currently 0.47%.

Wall Street Analysts Forecast Growth

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

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.