Northeast Bank (NASDAQ:NBN) Short Interest Down 17.3% in December

Northeast Bank (NASDAQ:NBN) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 53,200 shares, a decrease of 17.3% from the November 30th total of 64,300 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average trading volume of 60,600 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of Northeast Bank in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods assumed coverage on Northeast Bank in a research note on Thursday, November 21st. They issued a “market perform” rating and a $102.00 price target for the company.

Hedge Funds Weigh In On Northeast Bank

Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in shares of Northeast Bank by 18.7% in the 2nd quarter. American Century Companies Inc. now owns 126,748 shares of the financial services provider’s stock valued at $7,714,000 after purchasing an additional 19,947 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Northeast Bank by 136.3% in the third quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider’s stock worth $2,136,000 after buying an additional 15,975 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Northeast Bank by 251.5% in the third quarter. Assenagon Asset Management S.A. now owns 21,554 shares of the financial services provider’s stock worth $1,662,000 after buying an additional 15,422 shares during the last quarter. Marshall Wace LLP purchased a new position in Northeast Bank during the second quarter worth $631,000. Finally, Cornercap Investment Counsel Inc. bought a new position in Northeast Bank during the second quarter valued at $568,000.

Northeast Bank Stock Down 1.5 %

Shares of NASDAQ NBN traded down $1.39 during trading on Friday, hitting $91.05. The company had a trading volume of 42,646 shares, compared to its average volume of 36,468. The stock has a 50 day simple moving average of $95.67 and a 200 day simple moving average of $77.68. Northeast Bank has a 12 month low of $49.07 and a 12 month high of $105.44.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.34. The business had revenue of $73.97 million during the quarter, compared to analysts’ expectations of $38.20 million. During the same period in the prior year, the firm posted $2.01 earnings per share.

Northeast Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued 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, November 12th. Northeast Bank’s dividend payout ratio (DPR) is presently 0.52%.

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.