Northeast Bank (NASDAQ:NBN) Sees Strong Trading Volume – Here’s What Happened

Shares of Northeast Bank (NASDAQ:NBN) saw an uptick in trading volume on Tuesday . 40,024 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 40,666 shares.The stock last traded at $91.05 and had previously closed at $92.49.

Wall Street Analyst Weigh In

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

Northeast Bank Stock Performance

The stock has a market capitalization of $753.84 million, a P/E ratio of 10.68 and a beta of 1.06. The stock has a 50-day simple moving average of $99.00 and a 200 day simple moving average of $91.24.

Northeast Bank (NASDAQ:NBN) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $2.74 EPS for the quarter, topping 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. Investors of record on Tuesday, February 18th were issued a $0.01 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 annualized dividend and a yield of 0.04%. Northeast Bank’s dividend payout ratio is currently 0.47%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Picton Mahoney Asset Management boosted its stake in Northeast Bank by 57.6% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 118 shares during the period. R Squared Ltd bought a new stake in shares of Northeast Bank in the fourth quarter valued at about $41,000. Quantbot Technologies LP acquired a new position in shares of Northeast Bank during the third quarter worth about $76,000. BNP Paribas Financial Markets grew its holdings in shares of Northeast Bank by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock worth $127,000 after buying an additional 442 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Northeast Bank in the 4th quarter valued at approximately $127,000.

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.