Northeast Bank (NASDAQ:NBN) Sees Large Volume Increase - Still a Buy?

Northeast Bank (NASDAQ:NBN - Get Free Report) shares saw strong trading volume on Tuesday . 53,920 shares changed hands during mid-day trading, an increase of 12% from the previous session's volume of 48,223 shares.The stock last traded at $90.59 and had previously closed at $91.37.

Analysts Set New Price Targets

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

Northeast Bank Price Performance

The stock has a market capitalization of $737.23 million, a price-to-earnings ratio of 10.46 and a beta of 1.06. The business has a fifty day moving average of $99.10 and a 200 day moving average of $90.64.

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

Northeast Bank Announces Dividend

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

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Institutional Trading of Northeast Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBN. Royce & Associates LP purchased a new stake in Northeast Bank in the fourth quarter valued at approximately $4,820,000. Congress Wealth Management LLC DE purchased a new stake in Northeast Bank in the fourth quarter valued at approximately $3,183,000. Citadel Advisors LLC purchased a new stake in Northeast Bank in the fourth quarter valued at approximately $3,114,000. JPMorgan Chase & Co. raised its position in 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 purchasing an additional 31,523 shares during the period. Finally, American Century Companies Inc. raised its position in Northeast Bank by 17.1% in the fourth quarter. American Century Companies Inc. now owns 172,538 shares of the financial services provider's stock valued at $15,827,000 after purchasing an additional 25,220 shares during the period.

Northeast Bank Company 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.