Swiss National Bank Makes New $1.33 Million Investment in Northeast Bank (NASDAQ:NBN)

Swiss National Bank purchased a new stake in shares of Northeast Bank (NASDAQ:NBN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 14,500 shares of the financial services provider's stock, valued at approximately $1,330,000. Swiss National Bank owned about 0.18% of Northeast Bank at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Northeast Bank by 136.3% in 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. State Street Corp boosted its holdings in shares of Northeast Bank by 6.3% in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Northeast Bank during the 3rd quarter valued at about $562,000. Wedge Capital Management L L P NC purchased a new position in shares of Northeast Bank during the 4th quarter valued at about $656,000. Finally, Barclays PLC lifted its position in Northeast Bank by 278.7% in the 3rd quarter. Barclays PLC now owns 8,646 shares of the financial services provider's stock worth $666,000 after buying an additional 6,363 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price target 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 Stock Performance

NASDAQ:NBN traded up $0.55 during trading hours on Wednesday, reaching $91.44. The company's stock had a trading volume of 43,758 shares, compared to its average volume of 41,877. The firm has a market capitalization of $750.36 million, a price-to-earnings ratio of 10.64 and a beta of 1.06. The firm has a 50-day simple moving average of $97.94 and a 200-day simple moving average of $93.11. Northeast Bank has a 1 year low of $50.02 and a 1 year high of $110.35.

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

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.