Occudo Quantitative Strategies LP Acquires 3,598 Shares of Northeast Bank (NASDAQ:NBN)

Occudo Quantitative Strategies LP boosted its holdings in shares of Northeast Bank (NASDAQ:NBN) by 136.9% during the fourth quarter, HoldingsChannel reports. The fund owned 6,226 shares of the financial services provider’s stock after purchasing an additional 3,598 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Northeast Bank were worth $571,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its holdings in shares of Northeast Bank by 57.6% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 118 shares during the period. R Squared Ltd acquired a new position in Northeast Bank during the 4th quarter worth about $41,000. KLP Kapitalforvaltning AS acquired a new position in Northeast Bank during the 4th quarter worth about $128,000. Federated Hermes Inc. grew its position in shares of 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 buying an additional 479 shares during the last quarter. Finally, Comerica Bank acquired a new stake in shares of Northeast Bank in the fourth quarter valued at about $192,000.

Northeast Bank Stock Performance

NASDAQ:NBN opened at $86.04 on Thursday. Northeast Bank has a 52 week low of $54.50 and a 52 week high of $110.35. The firm’s fifty day moving average is $88.29 and its 200-day moving average is $94.70. The firm has a market cap of $706.04 million, a P/E ratio of 10.02 and a beta of 0.60.

Northeast Bank (NASDAQ:NBN) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.60). The business had revenue of $52.57 million during the quarter, compared to analysts’ expectations of $50.09 million.

Northeast Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bank’s dividend payout ratio is currently 0.44%.

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 note on Monday, February 10th.

Northeast Bank Company 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.