Arrowstreet Capital Limited Partnership Sells 17,168 Shares of Northeast Bank (NASDAQ:NBN)

Arrowstreet Capital Limited Partnership reduced its stake in Northeast Bank (NASDAQ:NBN) by 32.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,148 shares of the financial services provider’s stock after selling 17,168 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.43% of Northeast Bank worth $3,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management boosted its holdings in shares of Northeast Bank by 57.6% in the 4th 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 increased its holdings 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 purchasing an additional 442 shares during the period. R Squared Ltd bought a new position in shares of Northeast Bank during the fourth quarter worth about $41,000. Geode Capital Management LLC lifted 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 purchasing an additional 801 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Northeast Bank by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,875 shares of the financial services provider’s stock valued at $1,823,000 after acquiring an additional 892 shares during the last quarter.

Analyst Ratings Changes

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

Northeast Bank Trading Up 4.4 %

Shares of NBN stock opened at $87.37 on Thursday. Northeast Bank has a 12 month low of $50.02 and a 12 month high of $110.35. The firm has a market capitalization of $716.96 million, a PE ratio of 10.17 and a beta of 0.85. The firm has a fifty day simple moving average of $95.62 and a two-hundred day simple moving average of $93.66.

Northeast Bank (NASDAQ:NBN) last released its quarterly earnings results 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.01 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bank’s dividend payout ratio is currently 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.