Polaris Capital Management LLC Increases Stock Holdings in Northeast Bank (NASDAQ:NBN)

Polaris Capital Management LLC increased its position in shares of Northeast Bank (NASDAQ:NBN) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,600 shares of the financial services provider’s stock after acquiring an additional 1,700 shares during the period. Polaris Capital Management LLC’s holdings in Northeast Bank were worth $4,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Northeast Bank during the fourth quarter valued at about $41,000. Quantbot Technologies LP bought a new position in Northeast Bank during the 3rd quarter valued at approximately $76,000. BNP Paribas Financial Markets boosted its holdings in Northeast Bank by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 442 shares in the last quarter. SG Americas Securities LLC bought a new position in Northeast Bank in the third quarter worth about $185,000. Finally, Hohimer Wealth Management LLC purchased a new position in shares of Northeast Bank in the 3rd quarter valued at approximately $244,000.

Northeast Bank Stock Down 2.4 %

Shares of NBN opened at $106.93 on Tuesday. The stock has a market cap of $877.90 million, a P/E ratio of 12.45 and a beta of 1.08. The business’s 50 day moving average price is $97.61 and its 200-day moving average price is $85.64. Northeast Bank has a 52 week low of $49.07 and a 52 week high of $110.35.

Northeast Bank (NASDAQ:NBN) last posted its quarterly 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 declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Tuesday, February 18th. Northeast Bank’s dividend payout ratio is currently 0.47%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased 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.

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.