Northeast Bank (NASDAQ:NBN) Sees Unusually-High Trading Volume – What’s Next?

Northeast Bank (NASDAQ:NBN) shares saw an uptick in trading volume on Tuesday . 53,920 shares changed hands during mid-day trading, an increase of 12% from the previous session’s volume of 48,223 shares.The stock last traded at $90.59 and had previously closed at $91.37.

Wall Street Analyst Weigh In

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

Northeast Bank Stock Up 0.5 %

The firm’s 50 day simple moving average is $99.10 and its 200 day simple moving average is $90.64. The company has a market cap of $748.22 million, a price-to-earnings ratio of 10.61 and a beta of 1.06.

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

Northeast Bank Dividend Announcement

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

Hedge Funds Weigh In On Northeast Bank

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royce & Associates LP bought a new stake in shares of Northeast Bank during the 4th quarter worth about $4,820,000. Congress Wealth Management LLC DE bought a new stake in Northeast Bank during the fourth quarter worth approximately $3,183,000. Citadel Advisors LLC acquired a new stake in Northeast Bank in the fourth quarter worth approximately $3,114,000. JPMorgan Chase & Co. lifted its position in Northeast Bank by 113.8% in the fourth quarter. JPMorgan Chase & Co. now owns 59,222 shares of the financial services provider’s stock worth $5,432,000 after purchasing an additional 31,523 shares during the period. Finally, American Century Companies Inc. boosted its stake in Northeast Bank by 17.1% during the 4th quarter. American Century Companies Inc. now owns 172,538 shares of the financial services provider’s stock valued at $15,827,000 after purchasing an additional 25,220 shares in the last quarter.

About Northeast Bank

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.