Wellington Management Group LLP Trims Holdings in Northeast Bank (NASDAQ:NBN)

Wellington Management Group LLP cut its holdings in shares of Northeast Bank (NASDAQ:NBN - Free Report) by 61.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,371 shares of the financial services provider's stock after selling 174,207 shares during the period. Wellington Management Group LLP owned 1.36% of Northeast Bank worth $10,216,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Picton Mahoney Asset Management raised its stake in shares of Northeast Bank by 57.6% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider's stock worth $30,000 after acquiring an additional 118 shares in the last quarter. R Squared Ltd acquired a new position in shares of Northeast Bank during the fourth quarter worth $41,000. BNP Paribas Financial Markets increased its position in shares of Northeast Bank by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider's stock worth $127,000 after purchasing an additional 442 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Northeast Bank during the 4th quarter valued at $128,000. Finally, Quantbot Technologies LP boosted its position in shares of Northeast Bank by 121.2% in the 4th quarter. Quantbot Technologies LP now owns 2,190 shares of the financial services provider's stock worth $201,000 after purchasing an additional 1,200 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped 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 Price Performance

NASDAQ:NBN traded up $1.29 during trading hours on Tuesday, hitting $86.15. 7,577 shares of the company were exchanged, compared to its average volume of 42,308. The company's 50 day moving average price is $94.52 and its 200-day moving average price is $93.94. Northeast Bank has a 52-week low of $50.02 and a 52-week high of $110.35. The stock has a market capitalization of $706.95 million, a price-to-earnings ratio of 9.97 and a beta of 0.85.

Northeast Bank (NASDAQ:NBN - Get Free Report) last posted its quarterly earnings results 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. Investors 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 annualized dividend and a dividend yield of 0.05%. 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.