Boston Partners Sells 11,690 Shares of Northeast Bank (NASDAQ:NBN)

Boston Partners decreased its position in Northeast Bank (NASDAQ:NBN) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 263,977 shares of the financial services provider’s stock after selling 11,690 shares during the period. Boston Partners owned approximately 3.22% of Northeast Bank worth $24,615,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Royce & Associates LP acquired a new position in Northeast Bank in the fourth quarter valued at approximately $4,820,000. Picton Mahoney Asset Management lifted its position in shares of Northeast Bank by 57.6% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 118 shares during the period. Swiss National Bank bought a new position in Northeast Bank during the fourth quarter worth $1,330,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Northeast Bank by 51.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,072 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 3,780 shares during the period. Finally, AlphaQuest LLC increased its stake in Northeast Bank by 12,410.5% in the fourth quarter. AlphaQuest LLC now owns 2,377 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 2,358 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Northeast Bank Trading Down 1.7 %

NASDAQ NBN opened at $92.59 on Friday. The company has a market cap of $759.79 million, a P/E ratio of 10.78 and a beta of 1.06. The company has a fifty day simple moving average of $99.00 and a 200 day simple moving average of $91.42. Northeast Bank has a 12-month low of $50.02 and a 12-month high of $110.35.

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

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.