ExodusPoint Capital Management LP Takes $398,000 Position in Northeast Bank (NASDAQ:NBN)

ExodusPoint Capital Management LP bought a new position in Northeast Bank (NASDAQ:NBN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,341 shares of the financial services provider’s stock, valued at approximately $398,000. ExodusPoint Capital Management LP owned about 0.05% of Northeast Bank at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NBN. Royce & Associates LP bought a new position in shares of Northeast Bank in the 4th quarter worth approximately $4,820,000. SG Americas Securities LLC raised its position in Northeast Bank by 151.9% in the fourth quarter. SG Americas Securities LLC now owns 6,031 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 3,637 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Northeast Bank by 136.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,699 shares of the financial services provider’s stock worth $2,136,000 after acquiring an additional 15,975 shares during the last quarter. Swiss National Bank bought a new stake in shares of Northeast Bank during the 4th quarter valued at $1,330,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake 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 worth $1,016,000 after purchasing an additional 3,780 shares in the last quarter.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their target price on 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 Trading Up 0.5 %

NASDAQ NBN opened at $82.81 on Friday. The stock has a market cap of $679.54 million, a price-to-earnings ratio of 9.64 and a beta of 0.85. Northeast Bank has a 12 month low of $50.02 and a 12 month high of $110.35. The company’s 50 day moving average is $94.89 and its two-hundred day moving average is $93.76.

Northeast Bank (NASDAQ:NBN) last released 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. The ex-dividend date was Tuesday, February 18th. Northeast Bank’s dividend payout ratio is currently 0.47%.

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.