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 Northeast Bank (NASDAQ:NBN) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 11,124 shares of the financial services provider’s stock, valued at approximately $1,020,000.

Other institutional investors also recently modified their holdings of the company. Royce & Associates LP bought a new stake in Northeast Bank in the fourth quarter worth about $4,820,000. JPMorgan Chase & Co. increased its stake in shares of Northeast Bank by 136.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider’s stock worth $2,136,000 after purchasing an additional 15,975 shares during the last quarter. Swiss National Bank purchased a new stake in shares of Northeast Bank during the 4th quarter worth approximately $1,330,000. State Street Corp raised 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 during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Northeast Bank in the third quarter valued at approximately $562,000.

Northeast Bank Stock Down 2.5 %

Shares of NASDAQ:NBN opened at $91.14 on Friday. The firm has a market capitalization of $747.89 million, a PE ratio of 10.61 and a beta of 1.06. The company has a 50-day moving average price of $98.54 and a two-hundred day moving average price of $92.62. Northeast Bank has a twelve month low of $50.02 and a twelve month high of $110.35.

Northeast Bank (NASDAQ:NBN) 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. Investors 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%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their target price on Northeast Bank from $102.00 to $115.00 and gave the company a “market perform” rating in a research note on Monday, February 10th.

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.