Northeast Bank (NASDAQ:NBN) Now Covered by Analysts at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods started coverage on shares of Northeast Bank (NASDAQ:NBN) in a research report report published on Thursday morning, Marketbeat reports. The brokerage issued a market perform rating and a $102.00 target price on the financial services provider’s stock.

Separately, Piper Sandler reissued an “overweight” rating and set a $80.00 target price on shares of Northeast Bank in a research note on Wednesday, September 11th.

Northeast Bank Price Performance

Shares of NASDAQ NBN opened at $101.40 on Thursday. Northeast Bank has a twelve month low of $49.07 and a twelve month high of $105.44. The company’s fifty day moving average is $85.43 and its 200-day moving average is $70.53.

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

Northeast Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Tuesday, November 12th. Northeast Bank’s payout ratio is presently 0.52%.

Institutional Trading of Northeast Bank

Several hedge funds and other institutional investors have recently modified their holdings of NBN. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Northeast Bank by 11.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,268 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 520 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Northeast Bank in the 2nd quarter valued at $373,000. Vanguard Group Inc. lifted its position in Northeast Bank by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 350,434 shares of the financial services provider’s stock worth $19,393,000 after buying an additional 5,801 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Northeast Bank during the 2nd quarter worth about $212,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Northeast Bank by 5.8% in the 1st quarter. Russell Investments Group Ltd. now owns 63,165 shares of the financial services provider’s stock valued at $3,496,000 after acquiring an additional 3,459 shares in the last quarter.

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.