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

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

Separately, Piper Sandler reaffirmed 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 $101.40 on Thursday. The company’s 50-day moving average is $85.43 and its 200 day moving average is $70.64. Northeast Bank has a fifty-two week low of $49.07 and a fifty-two week high of $105.44.

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

Northeast Bank Announces Dividend

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

Institutional Trading of Northeast Bank

A number of institutional investors have recently added to or reduced their stakes in NBN. American Century Companies Inc. lifted 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 worth $7,714,000 after buying an additional 19,947 shares in the last quarter. Western Standard LLC boosted its holdings in Northeast Bank by 57.5% in the 1st quarter. Western Standard LLC now owns 46,150 shares of the financial services provider’s stock valued at $2,554,000 after purchasing an additional 16,850 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Northeast Bank by 251.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 21,554 shares of the financial services provider’s stock valued at $1,662,000 after purchasing an additional 15,422 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Northeast Bank in the second quarter worth $631,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in Northeast Bank during the second quarter valued at $568,000.

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.