52,545 Shares in Northeast Bank (NASDAQ:NBN) Acquired by Royce & Associates LP

Royce & Associates LP acquired a new stake in Northeast Bank (NASDAQ:NBN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 52,545 shares of the financial services provider's stock, valued at approximately $4,820,000. Royce & Associates LP owned approximately 0.64% of Northeast Bank as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NBN. Geode Capital Management LLC raised its holdings 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 worth $11,840,000 after acquiring an additional 801 shares during the period. State Street Corp increased its position in shares of 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 purchasing an additional 8,518 shares during the last quarter. Foundry Partners LLC increased its position in shares of Northeast Bank by 0.9% during the 3rd quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider's stock worth $5,717,000 after purchasing an additional 695 shares during the last quarter. Polaris Capital Management LLC grew its position in Northeast Bank by 3.5% in the 4th quarter. Polaris Capital Management LLC now owns 49,600 shares of the financial services provider's stock valued at $4,550,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Northeast Bank by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 47,873 shares of the financial services provider's stock valued at $4,391,000 after acquiring an additional 1,498 shares in the last quarter.

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Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their target price on 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 Stock Down 0.7 %

NASDAQ NBN traded down $0.64 during trading on Friday, hitting $91.95. The stock had a trading volume of 169,334 shares, compared to its average volume of 41,355. The company has a market capitalization of $754.54 million, a PE ratio of 10.70 and a beta of 1.06. The firm has a 50 day moving average price of $99.01 and a 200 day moving average price of $91.72. Northeast Bank has a twelve month low of $50.02 and a twelve month high of $110.35.

Northeast Bank (NASDAQ:NBN - Get Free Report) last announced its quarterly earnings data 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 Dividend Announcement

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

Northeast Bank 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.