Renaissance Technologies LLC Has $12.56 Million Stock Holdings in Northeast Bank (NASDAQ:NBN)

Renaissance Technologies LLC reduced its stake in Northeast Bank (NASDAQ:NBN) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,945 shares of the financial services provider’s stock after selling 22,500 shares during the quarter. Renaissance Technologies LLC owned about 1.67% of Northeast Bank worth $12,562,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NBN. Picton Mahoney Asset Management lifted its stake in shares of Northeast Bank by 57.6% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 118 shares during the period. R Squared Ltd bought a new stake in shares of Northeast Bank during the fourth quarter valued at approximately $41,000. BNP Paribas Financial Markets raised its position in shares of Northeast Bank by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 442 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Northeast Bank in the 4th quarter worth $128,000. Finally, Federated Hermes Inc. grew its position in Northeast Bank by 44.4% in the 4th quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 479 shares during the period.

Northeast Bank Stock Up 3.0 %

NBN stock opened at $87.42 on Wednesday. The firm has a market capitalization of $717.37 million, a PE ratio of 10.18 and a beta of 0.85. The stock’s 50 day moving average is $94.15 and its 200-day moving average is $93.89. Northeast Bank has a twelve month low of $50.02 and a twelve month high of $110.35.

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

Northeast Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.05%. The ex-dividend date was Tuesday, February 18th. Northeast Bank’s dividend payout ratio (DPR) is 0.47%.

Wall Street Analysts Forecast Growth

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

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.