Bank of New York Mellon Corp Boosts Stock Position in Northeast Bank (NASDAQ:NBN)

Bank of New York Mellon Corp grew its holdings in shares of Northeast Bank (NASDAQ:NBN) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,873 shares of the financial services provider’s stock after buying an additional 1,498 shares during the period. Bank of New York Mellon Corp’s holdings in Northeast Bank were worth $4,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Northeast Bank during the 3rd quarter worth approximately $562,000. Foundry Partners LLC raised its stake in 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 acquiring an additional 695 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Northeast Bank in the third quarter valued at $76,000. BNP Paribas Financial Markets boosted its stake in Northeast Bank by 36.7% in the third 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. Finally, State Street Corp grew its holdings 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 worth $11,152,000 after purchasing an additional 8,518 shares during the last quarter.

Northeast Bank Price Performance

Shares of Northeast Bank stock opened at $92.57 on Wednesday. The firm’s fifty day simple moving average is $99.00 and its 200-day simple moving average is $91.40. 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 $759.63 million, a price-to-earnings ratio of 10.78 and a beta of 1.06.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $2.74 EPS for the quarter, beating 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. Investors of record on Tuesday, February 18th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Tuesday, February 18th. Northeast Bank’s dividend payout ratio (DPR) is presently 0.47%.

Analyst Upgrades and Downgrades

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 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.