Northeast Bank (NASDAQ:NBN) Short Interest Update

Northeast Bank (NASDAQ:NBN) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 104,200 shares, an increase of 23.8% from the February 13th total of 84,200 shares. Based on an average trading volume of 50,200 shares, the short-interest ratio is presently 2.1 days. Currently, 1.5% of the company’s stock are short sold.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Northeast Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBN. Vanguard Group Inc. raised its position in shares of Northeast Bank by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 382,996 shares of the financial services provider’s stock valued at $35,132,000 after purchasing an additional 19,279 shares during the period. American Century Companies Inc. raised its holdings in Northeast Bank by 17.1% in the 4th quarter. American Century Companies Inc. now owns 172,538 shares of the financial services provider’s stock worth $15,827,000 after acquiring an additional 25,220 shares during the period. Geode Capital Management LLC boosted its holdings in Northeast Bank by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 158,171 shares of the financial services provider’s stock valued at $14,513,000 after acquiring an additional 4,701 shares during the period. State Street Corp increased its stake in shares of Northeast Bank by 6.3% in the third quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock worth $11,152,000 after purchasing an additional 8,518 shares during the period. Finally, Kennedy Capital Management LLC lifted its position in shares of Northeast Bank by 9.5% during the 4th quarter. Kennedy Capital Management LLC now owns 141,994 shares of the financial services provider’s stock worth $13,025,000 after purchasing an additional 12,301 shares during the last quarter.

Northeast Bank Stock Up 1.8 %

NASDAQ NBN opened at $94.20 on Thursday. The company has a 50 day moving average price of $99.01 and a two-hundred day moving average price of $91.42. Northeast Bank has a 12-month low of $50.02 and a 12-month high of $110.35. The stock has a market capitalization of $773.01 million, a PE ratio of 10.97 and a beta of 1.06.

Northeast Bank (NASDAQ:NBN) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.18.

Northeast Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend was Tuesday, February 18th. Northeast Bank’s payout ratio is 0.47%.

Northeast Bank Company 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.