Balyasny Asset Management L.P. Acquires New Position in Northeast Bank (NASDAQ:NBN)

Balyasny Asset Management L.P. bought a new position in Northeast Bank (NASDAQ:NBN) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,372 shares of the financial services provider’s stock, valued at approximately $585,000. Balyasny Asset Management L.P. owned 0.08% of Northeast Bank as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of NBN. Picton Mahoney Asset Management increased its position in shares of Northeast Bank by 57.6% during the fourth 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 bought a new stake in shares of Northeast Bank during the fourth quarter worth $41,000. KLP Kapitalforvaltning AS bought a new stake in shares of Northeast Bank during the fourth quarter worth $128,000. Federated Hermes Inc. increased its position in shares of Northeast Bank by 44.4% during the fourth quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 479 shares in the last quarter. Finally, Comerica Bank bought a new stake in shares of Northeast Bank during the fourth quarter worth $192,000.

Analysts Set New Price Targets

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

Northeast Bank Trading Up 0.3%

Northeast Bank stock opened at $86.33 on Friday. The company has a market cap of $708.42 million, a P/E ratio of 10.05 and a beta of 0.60. Northeast Bank has a 1-year low of $54.50 and a 1-year high of $110.35. The company has a fifty day simple moving average of $88.24 and a 200 day simple moving average of $94.69.

Northeast Bank (NASDAQ:NBN) last released its earnings results on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.60). The company had revenue of $52.57 million for the quarter, compared to analyst estimates of $50.09 million.

Northeast Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date is Tuesday, May 13th. Northeast Bank’s dividend payout ratio (DPR) is currently 0.44%.

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.