AlphaQuest LLC Has $218,000 Stake in Northeast Bank (NASDAQ:NBN)

AlphaQuest LLC boosted its position in shares of Northeast Bank (NASDAQ:NBN) by 12,410.5% in the fourth quarter, Holdings Channel reports. The fund owned 2,377 shares of the financial services provider’s stock after acquiring an additional 2,358 shares during the period. AlphaQuest LLC’s holdings in Northeast Bank were worth $218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of NBN. R Squared Ltd acquired a new position in Northeast Bank during the 4th quarter worth $41,000. Quantbot Technologies LP acquired a new position in Northeast Bank during the 3rd quarter worth $76,000. BNP Paribas Financial Markets lifted its position in Northeast Bank by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,647 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 442 shares during the last quarter. Hohimer Wealth Management LLC acquired a new position in Northeast Bank during the 3rd quarter worth $244,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Northeast Bank during the fourth quarter valued at about $294,000.

Wall Street Analyst Weigh In

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

Northeast Bank Stock Performance

Shares of NBN opened at $92.49 on Monday. The company has a 50-day simple moving average of $99.04 and a 200-day simple moving average of $91.09. The firm has a market capitalization of $758.97 million, a P/E ratio of 10.77 and a beta of 1.06. Northeast Bank has a 52 week low of $49.07 and a 52 week 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 for the quarter, beating analysts’ consensus estimates of $2.56 by $0.18.

Northeast Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors 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 yield of 0.04%. Northeast Bank’s payout ratio is currently 0.47%.

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.