Raymond James Financial Inc. Makes New $294,000 Investment in Northeast Bank (NASDAQ:NBN)

Raymond James Financial Inc. acquired a new position in shares of Northeast Bank (NASDAQ:NBN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,201 shares of the financial services provider's stock, valued at approximately $294,000.

Several other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC grew its position in shares of Northeast Bank by 151.9% during the 4th quarter. SG Americas Securities LLC now owns 6,031 shares of the financial services provider's stock worth $553,000 after buying an additional 3,637 shares during the period. JPMorgan Chase & Co. increased its position in shares of Northeast Bank by 136.3% during the third quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider's stock valued at $2,136,000 after acquiring an additional 15,975 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in Northeast Bank during the fourth quarter worth about $656,000. Charles Schwab Investment Management Inc. boosted its position in Northeast Bank by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,875 shares of the financial services provider's stock worth $1,823,000 after purchasing an additional 892 shares during the period. Finally, Barclays PLC raised its stake in shares of Northeast Bank by 278.7% during the 3rd quarter. Barclays PLC now owns 8,646 shares of the financial services provider's stock valued at $666,000 after purchasing an additional 6,363 shares during the period.

Northeast Bank Stock Performance

Shares of NBN traded down $0.90 during trading hours on Wednesday, hitting $86.53. The company had a trading volume of 1,942 shares, compared to its average volume of 42,320. The firm has a fifty day moving average price of $94.15 and a 200-day moving average price of $93.89. Northeast Bank has a 52-week low of $50.02 and a 52-week high of $110.35. The stock has a market capitalization of $710.02 million, a price-to-earnings ratio of 10.10 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, topping analysts' consensus estimates of $2.56 by $0.18.

Northeast Bank Dividend Announcement

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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bank's payout ratio is 0.47%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped 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.