Renaissance Technologies LLC Lowers Holdings in Northeast Bank (NASDAQ:NBN)

Renaissance Technologies LLC reduced its position in Northeast Bank (NASDAQ:NBN - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 136,945 shares of the financial services provider's stock after selling 22,500 shares during the period. Renaissance Technologies LLC owned about 1.67% of Northeast Bank worth $12,562,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in shares of Northeast Bank by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider's stock valued at $127,000 after purchasing an additional 442 shares during the last quarter. State Street Corp raised its stake in Northeast Bank by 6.3% during the 3rd quarter. State Street Corp now owns 144,591 shares of the financial services provider's stock worth $11,152,000 after acquiring an additional 8,518 shares during the period. Jane Street Group LLC boosted its position in shares of Northeast Bank by 23.6% in the third quarter. Jane Street Group LLC now owns 8,047 shares of the financial services provider's stock worth $621,000 after purchasing an additional 1,535 shares during the period. Barclays PLC increased its stake in shares of Northeast Bank by 278.7% in the third quarter. Barclays PLC now owns 8,646 shares of the financial services provider's stock worth $666,000 after purchasing an additional 6,363 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Northeast Bank by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 153,470 shares of the financial services provider's stock valued at $11,840,000 after purchasing an additional 801 shares during the period.

Northeast Bank Price Performance

Shares of NASDAQ NBN traded down $2.51 during midday trading on Monday, reaching $86.55. 4,563 shares of the stock traded hands, compared to its average volume of 42,618. The stock has a market capitalization of $710.23 million, a PE ratio of 10.13 and a beta of 0.85. The company's 50 day moving average is $92.97 and its 200 day moving average is $94.29. Northeast Bank has a one year low of $50.92 and a one year high of $110.35.

Northeast Bank (NASDAQ:NBN - Get Free Report) last announced its earnings results 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 disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date of this dividend was Tuesday, February 18th. Northeast Bank's payout ratio is currently 0.47%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price target on Northeast Bank from $102.00 to $115.00 and gave the stock a "market perform" rating in a research note 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.