Northeast Bank (NASDAQ:NBN) Shares Sold by Trevian Wealth Management LLC

Trevian Wealth Management LLC trimmed its stake in Northeast Bank (NASDAQ:NBN) by 1.7% in the fourth quarter, HoldingsChannel reports. The firm owned 151,851 shares of the financial services provider’s stock after selling 2,680 shares during the period. Northeast Bank makes up about 10.3% of Trevian Wealth Management LLC’s portfolio, making the stock its 2nd largest position. Trevian Wealth Management LLC’s holdings in Northeast Bank were worth $13,929,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Northeast Bank by 136.3% during the third quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider’s stock valued at $2,136,000 after buying an additional 15,975 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of 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. Jane Street Group LLC lifted its position in shares of Northeast Bank by 23.6% during the third quarter. Jane Street Group LLC now owns 8,047 shares of the financial services provider’s stock valued at $621,000 after purchasing an additional 1,535 shares in the last quarter. Barclays PLC lifted its position in shares of Northeast Bank by 278.7% during the third quarter. Barclays PLC now owns 8,646 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 6,363 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Northeast Bank during the fourth quarter valued at about $656,000.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods assumed coverage on shares of Northeast Bank in a research report on Thursday, November 21st. They set a “market perform” rating and a $102.00 price target on the stock.

Northeast Bank Stock Performance

Shares of NBN stock opened at $101.18 on Thursday. The firm has a market cap of $830.28 million, a price-to-earnings ratio of 13.14 and a beta of 1.08. Northeast Bank has a 52 week low of $49.07 and a 52 week high of $105.44. The firm’s 50-day simple moving average is $96.96 and its two-hundred day simple moving average is $83.72.

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

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.