Assenagon Asset Management S.A. Lowers Stake in Northeast Bank (NASDAQ:NBN)

Assenagon Asset Management S.A. decreased its holdings in Northeast Bank (NASDAQ:NBN - Free Report) by 87.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,687 shares of the financial services provider's stock after selling 18,867 shares during the period. Assenagon Asset Management S.A.'s holdings in Northeast Bank were worth $246,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Northeast Bank by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 422,573 shares of the financial services provider's stock worth $25,716,000 after buying an additional 2,093 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Northeast Bank during the second quarter worth about $631,000. Squarepoint Ops LLC bought a new stake in shares of Northeast Bank in the 2nd quarter worth approximately $229,000. AQR Capital Management LLC purchased a new position in Northeast Bank during the 2nd quarter valued at $212,000. Finally, SG Americas Securities LLC bought a new position in Northeast Bank in the third quarter worth about $185,000.

Northeast Bank Trading Up 0.9 %

NASDAQ NBN traded up $0.94 on Friday, hitting $101.42. 29,443 shares of the company traded hands, compared to its average volume of 38,364. Northeast Bank has a 52-week low of $49.07 and a 52-week high of $105.44. The company has a market capitalization of $832.66 million, a price-to-earnings ratio of 13.17 and a beta of 1.08. The business's 50 day moving average price is $96.83 and its 200-day moving average price is $83.03.

Northeast Bank (NASDAQ:NBN - Get Free Report) last released its earnings results on Tuesday, October 29th. The financial services provider reported $2.11 EPS for the quarter, topping the consensus estimate of $1.77 by $0.34. The company had revenue of $73.97 million during the quarter, compared to analysts' expectations of $38.20 million. During the same period last year, the firm posted $2.01 EPS.

Northeast Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Northeast Bank's dividend payout ratio is currently 0.52%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods started coverage on shares of Northeast Bank in a report on Thursday, November 21st. They issued a "market perform" rating and a $102.00 price objective on the stock.

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.