Congress Wealth Management LLC DE Invests $3.18 Million in Northeast Bank (NASDAQ:NBN)

Congress Wealth Management LLC DE acquired a new stake in shares of Northeast Bank (NASDAQ:NBN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 34,702 shares of the financial services provider’s stock, valued at approximately $3,183,000. Congress Wealth Management LLC DE owned 0.42% of Northeast Bank as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its stake in shares of Northeast Bank by 57.6% during 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 purchased a new position in Northeast Bank during the fourth quarter worth about $41,000. Quantbot Technologies LP purchased a new position in Northeast Bank during the third quarter worth about $76,000. KLP Kapitalforvaltning AS acquired a new stake in Northeast Bank in the 4th quarter worth about $128,000. Finally, BNP Paribas Financial Markets grew its holdings in Northeast Bank by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock valued at $127,000 after buying an additional 442 shares during the period.

Northeast Bank Trading Down 0.5 %

Shares of Northeast Bank stock opened at $93.71 on Thursday. The business’s fifty day moving average price is $98.89 and its 200 day moving average price is $92.28. Northeast Bank has a twelve month low of $50.02 and a twelve month high of $110.35. The stock has a market capitalization of $768.98 million, a P/E ratio of 10.91 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their target price 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 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.