Northeast Bank (NASDAQ:NBN) Stock Position Raised by Kennedy Capital Management LLC

Kennedy Capital Management LLC grew its stake in Northeast Bank (NASDAQ:NBN - Free Report) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,994 shares of the financial services provider's stock after acquiring an additional 12,301 shares during the quarter. Kennedy Capital Management LLC owned about 1.73% of Northeast Bank worth $13,025,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Royce & Associates LP purchased a new stake in Northeast Bank in the 4th quarter valued at about $4,820,000. SG Americas Securities LLC grew its holdings in Northeast Bank by 151.9% in the fourth quarter. SG Americas Securities LLC now owns 6,031 shares of the financial services provider's stock valued at $553,000 after purchasing an additional 3,637 shares during the period. JPMorgan Chase & Co. raised its stake in Northeast Bank by 136.3% during the third quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider's stock worth $2,136,000 after purchasing an additional 15,975 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Northeast Bank during the 4th quarter valued at $294,000. Finally, Swiss National Bank acquired a new stake in Northeast Bank during the fourth quarter worth about $1,330,000.

Northeast Bank Price Performance

NASDAQ NBN traded up $1.55 on Tuesday, reaching $86.41. The company had a trading volume of 10,425 shares, compared to its average volume of 42,319. The firm has a 50-day moving average of $94.52 and a 200-day moving average of $93.94. Northeast Bank has a 1 year low of $50.02 and a 1 year high of $110.35. The firm has a market capitalization of $709.08 million, a PE ratio of 10.06 and a beta of 0.85.

Northeast Bank (NASDAQ:NBN - Get Free Report) last issued its quarterly earnings data 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. The ex-dividend date of this dividend was Tuesday, February 18th. Northeast Bank's dividend payout ratio (DPR) is currently 0.47%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their target price on Northeast Bank from $102.00 to $115.00 and gave the stock 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.