Northeast Bank (NASDAQ:NBN) Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC increased its stake in Northeast Bank (NASDAQ:NBNGet Rating) by 54.7% during the 4th quarter, Holdings reports. The fund owned 41,530 shares of the financial services provider’s stock after buying an additional 14,686 shares during the period. Acadian Asset Management LLC’s holdings in Northeast Bank were worth $1,483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NBN. Cubist Systematic Strategies LLC acquired a new stake in shares of Northeast Bank in the third quarter worth $205,000. Janney Montgomery Scott LLC purchased a new position in Northeast Bank in the fourth quarter valued at about $258,000. Qube Research & Technologies Ltd acquired a new stake in Northeast Bank during the 4th quarter valued at approximately $279,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Northeast Bank by 8.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,610 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 659 shares during the last quarter. Finally, Ellsworth Advisors LLC purchased a new position in shares of Northeast Bank during the 4th quarter valued at approximately $499,000. Institutional investors own 50.04% of the company’s stock.

Shares of NBN stock opened at $36.28 on Thursday. The stock has a market capitalization of $302.58 million, a price-to-earnings ratio of 5.56 and a beta of 1.37. Northeast Bank has a one year low of $28.02 and a one year high of $41.05. The company’s 50-day simple moving average is $35.36 and its 200-day simple moving average is $35.56.

Northeast Bank (NASDAQ:NBNGet Rating) last posted its quarterly earnings results on Monday, April 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.19. During the same period last year, the business earned $4.06 EPS.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 18th. Stockholders of record on Wednesday, May 4th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, May 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.11%. Northeast Bank’s dividend payout ratio (DPR) is presently 0.61%.

Separately, upgraded shares of Northeast Bank from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th.

Northeast Bank Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Northeast Bank (NASDAQ:NBN)

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