Russell Investments Group Ltd. Sells 13,946 Shares of Northeast Bank (NASDAQ:NBN)

Russell Investments Group Ltd. decreased its stake in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 21.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,548 shares of the financial services provider's stock after selling 13,946 shares during the period. Russell Investments Group Ltd. owned approximately 0.62% of Northeast Bank worth $4,637,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Northeast Bank by 5.3% in the 4th 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 period. American Century Companies Inc. grew its holdings in 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 worth $15,827,000 after purchasing an additional 25,220 shares during the period. Geode Capital Management LLC increased its stake in shares of Northeast Bank by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 158,171 shares of the financial services provider's stock valued at $14,513,000 after purchasing an additional 4,701 shares in the last quarter. State Street Corp increased its stake in shares of Northeast Bank by 6.3% during the third quarter. State Street Corp now owns 144,591 shares of the financial services provider's stock valued at $11,152,000 after purchasing an additional 8,518 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Northeast Bank by 113.8% during 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 during the last quarter.

Northeast Bank Trading Up 1.8 %

NASDAQ:NBN traded up $1.59 on Friday, reaching $89.06. 47,418 shares of the stock traded hands, compared to its average volume of 42,686. The company's fifty day simple moving average is $93.35 and its 200 day simple moving average is $93.93. The company has a market capitalization of $730.83 million, a price-to-earnings ratio of 10.37 and a beta of 0.85. Northeast Bank has a 12 month low of $50.25 and a 12 month high of $110.35.

Northeast Bank (NASDAQ:NBN - Get Free Report) last posted 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 Dividend Announcement

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

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upped 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 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.