Virtu Financial LLC Invests $267,000 in Northeast Bank (NASDAQ:NBN)

Virtu Financial LLC acquired a new position in Northeast Bank (NASDAQ:NBN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,916 shares of the financial services provider’s stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Royce & Associates LP acquired a new position in Northeast Bank during the 4th quarter valued at approximately $4,820,000. SG Americas Securities LLC grew its holdings in shares of Northeast Bank by 151.9% during the fourth quarter. SG Americas Securities LLC now owns 6,031 shares of the financial services provider’s stock valued at $553,000 after buying an additional 3,637 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Northeast Bank by 136.3% in the 3rd 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 during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Northeast Bank by 51.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,072 shares of the financial services provider’s stock valued at $1,016,000 after acquiring an additional 3,780 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in Northeast Bank in the 4th quarter worth $656,000.

Northeast Bank Trading Down 2.5 %

Shares of NASDAQ NBN opened at $91.14 on Friday. The company has a 50 day simple moving average of $98.54 and a two-hundred day simple moving average of $92.45. The stock has a market cap of $747.89 million, a price-to-earnings ratio of 10.61 and a beta of 1.06. Northeast Bank has a 12 month low of $50.02 and a 12 month high of $110.35.

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

Northeast Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors 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 0.04%. The ex-dividend date of this dividend was Tuesday, February 18th. Northeast Bank’s dividend payout ratio (DPR) is 0.47%.

Analyst Ratings Changes

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

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.