Jane Street Group LLC Acquires 1,535 Shares of Northeast Bank (NASDAQ:NBN)

Jane Street Group LLC lifted its holdings in Northeast Bank (NASDAQ:NBN) by 23.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,047 shares of the financial services provider’s stock after buying an additional 1,535 shares during the quarter. Jane Street Group LLC’s holdings in Northeast Bank were worth $621,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NBN. American Century Companies Inc. raised its holdings in shares of Northeast Bank by 18.7% in the second quarter. American Century Companies Inc. now owns 126,748 shares of the financial services provider’s stock valued at $7,714,000 after buying an additional 19,947 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Northeast Bank by 251.5% in the third quarter. Assenagon Asset Management S.A. now owns 21,554 shares of the financial services provider’s stock valued at $1,662,000 after buying an additional 15,422 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Northeast Bank in the second quarter valued at about $631,000. Cornercap Investment Counsel Inc. bought a new stake in Northeast Bank during the 2nd quarter worth about $568,000. Finally, State Street Corp raised its holdings in Northeast Bank by 6.3% during the 3rd quarter. State Street Corp now owns 144,591 shares of the financial services provider’s stock worth $11,152,000 after purchasing an additional 8,518 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Keefe, Bruyette & Woods assumed coverage on Northeast Bank in a report on Thursday, November 21st. They set a “market perform” rating and a $102.00 price objective for the company. Piper Sandler reissued an “overweight” rating and set a $80.00 price objective on shares of Northeast Bank in a report on Wednesday, September 11th.

Northeast Bank Price Performance

Shares of NASDAQ:NBN opened at $93.88 on Friday. Northeast Bank has a 1-year low of $49.07 and a 1-year high of $105.44. The business has a 50-day moving average price of $96.36 and a two-hundred day moving average price of $78.77.

Northeast Bank (NASDAQ:NBN) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.34. The company had revenue of $73.97 million for the quarter, compared to analyst estimates of $38.20 million. During the same quarter in the previous year, the firm posted $2.01 earnings per share.

Northeast Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Northeast Bank’s payout ratio is currently 0.52%.

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.