Polaris Capital Management LLC Has $4.55 Million Position in Northeast Bank (NASDAQ:NBN)

Polaris Capital Management LLC increased its position in shares of Northeast Bank (NASDAQ:NBN) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,600 shares of the financial services provider’s stock after acquiring an additional 1,700 shares during the period. Polaris Capital Management LLC owned about 0.60% of Northeast Bank worth $4,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in shares of Northeast Bank during the 2nd quarter worth $212,000. SG Americas Securities LLC bought a new stake in shares of Northeast Bank during the third quarter worth $185,000. Assenagon Asset Management S.A. increased its holdings in Northeast Bank by 251.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 21,554 shares of the financial services provider’s stock worth $1,662,000 after purchasing an additional 15,422 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake 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. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Northeast Bank during the 3rd quarter worth approximately $562,000.

Northeast Bank Stock Down 2.4 %

NASDAQ:NBN opened at $106.93 on Tuesday. The company has a fifty day moving average of $97.61 and a 200-day moving average of $85.64. Northeast Bank has a twelve month low of $49.07 and a twelve month high of $110.35. The firm has a market capitalization of $877.90 million, a P/E ratio of 12.45 and a beta of 1.08.

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 will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date is Tuesday, February 18th. Northeast Bank’s payout ratio is currently 0.47%.

Wall Street Analyst Weigh In

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

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.