Wedge Capital Management L L P NC Buys 1,282 Shares of Northeast Bank (NASDAQ:NBN)

Wedge Capital Management L L P NC boosted its stake in shares of Northeast Bank (NASDAQ:NBN) by 17.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 8,436 shares of the financial services provider’s stock after buying an additional 1,282 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Northeast Bank were worth $772,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NBN. Bank of New York Mellon Corp grew its position in shares of Northeast Bank by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 47,873 shares of the financial services provider’s stock valued at $4,391,000 after acquiring an additional 1,498 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 worth $1,823,000 after purchasing an additional 892 shares during the period. Raymond James Financial Inc. bought a new position in Northeast Bank during the fourth quarter worth about $294,000. AlphaQuest LLC increased its position in Northeast Bank by 12,410.5% during the fourth quarter. AlphaQuest LLC now owns 2,377 shares of the financial services provider’s stock worth $218,000 after buying an additional 2,358 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Northeast Bank by 51.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,072 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 3,780 shares during the period.

Northeast Bank Stock Down 0.3%

NBN opened at $85.42 on Thursday. Northeast Bank has a 12-month low of $54.50 and a 12-month high of $110.35. The business has a 50 day moving average of $85.28 and a 200-day moving average of $92.92. The stock has a market cap of $700.96 million, a price-to-earnings ratio of 9.94 and a beta of 0.58.

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

Northeast Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date was Tuesday, May 13th. Northeast Bank’s dividend payout ratio is presently 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.