Teacher Retirement System of Texas Makes New $1.02 Million Investment in Northeast Bank (NASDAQ:NBN)

Teacher Retirement System of Texas bought a new stake in shares of Northeast Bank (NASDAQ:NBN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,124 shares of the financial services provider's stock, valued at approximately $1,020,000. Teacher Retirement System of Texas owned approximately 0.14% of Northeast Bank as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NBN. Picton Mahoney Asset Management boosted its stake in shares of Northeast Bank by 57.6% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 118 shares in the last quarter. BNP Paribas Financial Markets boosted its position in 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 acquiring an additional 442 shares in the last quarter. R Squared Ltd purchased a new position in shares of Northeast Bank in the 4th quarter valued at $41,000. Geode Capital Management LLC raised its position in shares of Northeast Bank by 0.5% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Northeast Bank by 4.7% during the 4th 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 last quarter.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Northeast Bank from $102.00 to $115.00 and gave the stock a "market perform" rating in a report on Monday, February 10th.

Northeast Bank Stock Performance

NASDAQ:NBN traded up $0.55 during midday trading on Wednesday, reaching $91.44. 43,758 shares of the stock traded hands, compared to its average volume of 41,877. The business has a 50-day moving average of $97.94 and a two-hundred day moving average of $93.11. Northeast Bank has a 12-month low of $50.02 and a 12-month high of $110.35. The stock has a market capitalization of $750.36 million, a PE ratio of 10.64 and a beta of 1.06.

Northeast Bank (NASDAQ:NBN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $2.74 EPS for the quarter, beating the consensus estimate of $2.56 by $0.18.

Northeast Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.01 per share. 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 payout ratio is 0.47%.

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.