Northeast Bank (NASDAQ:NBN) Sees Large Volume Increase – Here’s What Happened

Shares of Northeast Bank (NASDAQ:NBN) saw unusually-high trading volume on Tuesday . Approximately 41,977 shares changed hands during trading, a decline of 4% from the previous session’s volume of 43,739 shares.The stock last traded at $85.38 and had previously closed at $85.41.

Analyst Upgrades and Downgrades

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

Northeast Bank Stock Down 2.2%

The company’s fifty day moving average price is $87.74 and its 200-day moving average price is $94.58. The stock has a market capitalization of $684.38 million, a PE ratio of 9.71 and a beta of 0.60.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings data 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 company had revenue of $52.57 million during the quarter, compared to the consensus estimate of $50.09 million.

Northeast Bank Announces Dividend

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

Institutional Trading of Northeast Bank

Several institutional investors have recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Northeast Bank in the first quarter worth approximately $8,089,000. Royce & Associates LP purchased a new position in Northeast Bank in the 4th quarter worth approximately $4,820,000. GW&K Investment Management LLC lifted its position in Northeast Bank by 31.7% in the 1st quarter. GW&K Investment Management LLC now owns 166,672 shares of the financial services provider’s stock valued at $15,257,000 after acquiring an additional 40,145 shares in the last quarter. Congress Wealth Management LLC DE purchased a new stake in Northeast Bank during the 4th quarter valued at $3,183,000. Finally, Citadel Advisors LLC bought a new stake in shares of Northeast Bank in the 4th quarter worth $3,114,000.

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.