Northeast Bank (NASDAQ:NBN) Price Target Raised to $115.00

Northeast Bank (NASDAQ:NBN) had its price objective lifted by Keefe, Bruyette & Woods from $102.00 to $115.00 in a research report released on Monday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Northeast Bank Stock Performance

Shares of NBN opened at $104.56 on Monday. The firm has a market cap of $858.44 million, a P/E ratio of 12.17 and a beta of 1.08. Northeast Bank has a twelve month low of $49.07 and a twelve month high of $110.35. The firm’s 50 day moving average price is $97.94 and its two-hundred day moving average price is $86.13.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $2.74 EPS for the quarter, beating the consensus estimate of $2.56 by $0.18.

Northeast Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given 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, February 18th. Northeast Bank’s dividend payout ratio is presently 0.47%.

Hedge Funds Weigh In On Northeast Bank

A number of large investors have recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its position in shares of Northeast Bank by 57.6% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 118 shares in the last quarter. R Squared Ltd acquired a new stake in Northeast Bank in the 4th quarter valued at $41,000. Quantbot Technologies LP bought a new stake in Northeast Bank during the 3rd quarter worth about $76,000. BNP Paribas Financial Markets boosted its stake in shares of 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 buying an additional 442 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Northeast Bank in the 4th quarter valued at about $128,000.

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.