Pacific Ridge Capital Partners LLC Has $11.96 Million Holdings in Northeast Bank (NASDAQ:NBN)

Pacific Ridge Capital Partners LLC lowered its stake in Northeast Bank (NASDAQ:NBN - Free Report) by 19.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 130,418 shares of the financial services provider's stock after selling 30,915 shares during the quarter. Northeast Bank comprises approximately 2.7% of Pacific Ridge Capital Partners LLC's investment portfolio, making the stock its 2nd biggest holding. Pacific Ridge Capital Partners LLC owned 1.59% of Northeast Bank worth $11,963,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Royce & Associates LP acquired a new position in Northeast Bank during the fourth quarter worth $4,820,000. Congress Wealth Management LLC DE acquired a new position in shares of Northeast Bank during the 4th quarter worth about $3,183,000. JPMorgan Chase & Co. grew its stake 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 in the last quarter. American Century Companies Inc. grew its stake in shares of 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 buying an additional 25,220 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Northeast Bank by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider's stock worth $35,132,000 after buying an additional 19,279 shares during the last quarter.

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Northeast Bank Price Performance

Northeast Bank stock traded down $2.30 during mid-day trading on Friday, hitting $91.14. 20,929 shares of the company's stock traded hands, compared to its average volume of 41,925. The firm has a 50 day simple moving average of $98.54 and a two-hundred day simple moving average of $92.62. Northeast Bank has a fifty-two week low of $50.02 and a fifty-two week high of $110.35. The stock has a market cap of $747.89 million, a price-to-earnings ratio of 10.61 and a beta of 1.06.

Northeast Bank (NASDAQ:NBN - Get Free Report) last posted its earnings results on Thursday, February 6th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, topping 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. Stockholders of record on Tuesday, February 18th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date was Tuesday, February 18th. Northeast Bank's payout ratio is 0.47%.

Analysts Set New Price Targets

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

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.