Northeast Bank (NASDAQ:NBN) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Northeast Bank (NASDAQ:NBN) by 51.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,072 shares of the financial services provider’s stock after acquiring an additional 3,780 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Northeast Bank worth $1,016,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Northeast Bank in the 4th quarter valued at $41,000. Quantbot Technologies LP acquired a new stake in Northeast Bank in the 3rd quarter valued at $76,000. BNP Paribas Financial Markets grew its stake in Northeast Bank by 36.7% in 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 during the period. AlphaQuest LLC grew its stake in Northeast Bank by 12,410.5% in the 4th quarter. AlphaQuest LLC now owns 2,377 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 2,358 shares during the period. Finally, Hohimer Wealth Management LLC acquired a new stake in Northeast Bank in the 3rd quarter valued at $244,000.

Northeast Bank Stock Down 1.7 %

Shares of NBN opened at $92.59 on Friday. Northeast Bank has a 52-week low of $50.02 and a 52-week high of $110.35. The firm’s fifty day moving average is $99.00 and its two-hundred day moving average is $91.42. The stock has a market cap of $759.79 million, a PE ratio of 10.78 and a beta of 1.06.

Northeast Bank (NASDAQ:NBN) last announced its earnings results on Thursday, February 6th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.18.

Northeast Bank Announces Dividend

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

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their target price on shares of 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 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.