Boston Partners Cuts Stock Holdings in Northeast Bank (NASDAQ:NBN)

Boston Partners lowered its position in Northeast Bank (NASDAQ:NBN) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,977 shares of the financial services provider’s stock after selling 11,690 shares during the period. Boston Partners’ holdings in Northeast Bank were worth $24,615,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NBN. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Northeast Bank during the third quarter worth about $562,000. Foundry Partners LLC grew its position in shares of Northeast Bank by 0.9% during the 3rd quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider’s stock valued at $5,717,000 after acquiring an additional 695 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Northeast Bank during the 3rd quarter worth approximately $76,000. BNP Paribas Financial Markets raised its holdings in shares of 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 worth $127,000 after purchasing an additional 442 shares during the period. Finally, State Street Corp increased its position in 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 buying an additional 8,518 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Northeast Bank Trading Down 1.7 %

Shares of NBN stock opened at $92.59 on Friday. The firm’s 50 day moving average is $99.00 and its 200 day moving average is $91.42. The stock has a market capitalization of $759.79 million, a P/E ratio of 10.78 and a beta of 1.06. Northeast Bank has a 12 month low of $50.02 and a 12 month high of $110.35.

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

Northeast Bank Dividend Announcement

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

Northeast Bank 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.