Northeast Bank (NASDAQ:NBN) Short Interest Down 17.8% in February

Northeast Bank (NASDAQ:NBN) saw a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 84,200 shares, a decrease of 17.8% from the January 31st total of 102,400 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily volume of 53,000 shares, the days-to-cover ratio is currently 1.6 days.

Analyst Ratings Changes

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

Institutional Trading of Northeast Bank

Several institutional investors have recently bought and sold shares of NBN. Wealth Enhancement Advisory Services LLC lifted its holdings in Northeast Bank by 11.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,268 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 520 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Northeast Bank during the 3rd quarter worth about $562,000. Foundry Partners LLC lifted its stake in Northeast Bank by 0.9% in the 3rd quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider’s stock valued at $5,717,000 after buying an additional 695 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Northeast Bank in the 3rd quarter worth about $76,000. Finally, BNP Paribas Financial Markets increased its stake in Northeast Bank by 36.7% during the 3rd 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.

Northeast Bank Stock Down 1.6 %

Shares of NASDAQ:NBN traded down $1.45 during trading on Friday, hitting $91.88. 14,207 shares of the stock traded hands, compared to its average volume of 47,641. The company has a fifty day moving average price of $99.17 and a two-hundred day moving average price of $89.83. Northeast Bank has a 52-week low of $49.07 and a 52-week high of $110.35. The company has a market cap of $753.93 million, a price-to-earnings ratio of 10.70 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 analysts’ consensus estimates of $2.56 by $0.18.

Northeast Bank Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.04%. 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.