Semanteon Capital Management LP Acquires Shares of 8,103 Northeast Bank (NASDAQ:NBN)

Semanteon Capital Management LP acquired a new stake in Northeast Bank (NASDAQ:NBN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,103 shares of the financial services provider’s stock, valued at approximately $743,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NBN. Royce & Associates LP purchased a new position in shares of Northeast Bank in the fourth quarter valued at approximately $4,820,000. JPMorgan Chase & Co. lifted its position in shares of Northeast Bank by 136.3% in the third quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider’s stock valued at $2,136,000 after acquiring an additional 15,975 shares in the last quarter. Swiss National Bank purchased a new position in shares of Northeast Bank in the fourth quarter valued at approximately $1,330,000. Teacher Retirement System of Texas purchased a new position in Northeast Bank during the fourth quarter worth approximately $1,020,000. Finally, State Street Corp lifted its position in Northeast Bank by 6.3% during the third quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock worth $11,152,000 after buying an additional 8,518 shares in the last quarter.

Northeast Bank Stock Performance

Shares of Northeast Bank stock opened at $91.95 on Friday. Northeast Bank has a one year low of $50.02 and a one year high of $110.35. The company has a market cap of $754.54 million, a price-to-earnings ratio of 10.70 and a beta of 1.06. The business’s 50 day moving average price is $99.01 and its 200 day moving average price is $91.57.

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 analysts’ consensus estimates of $2.56 by $0.18.

Northeast Bank Dividend Announcement

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

Analyst Ratings Changes

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