Assenagon Asset Management S.A. Purchases Shares of 6,132 Northeast Bank (NASDAQ:NBN)

Assenagon Asset Management S.A. acquired a new position in shares of Northeast Bank (NASDAQ:NBN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,132 shares of the financial services provider’s stock, valued at approximately $373,000.

A number of other hedge funds also recently made changes to their positions in the stock. Enterprise Bank & Trust Co acquired a new position in Northeast Bank in the second quarter valued at $201,000. Boston Partners lifted its stake in shares of Northeast Bank by 5.2% in the 1st quarter. Boston Partners now owns 13,839 shares of the financial services provider’s stock valued at $766,000 after purchasing an additional 689 shares during the period. Western Standard LLC lifted its stake in shares of 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. Vanguard Group Inc. boosted its position in shares of Northeast Bank by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 350,434 shares of the financial services provider’s stock valued at $19,393,000 after purchasing an additional 5,801 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Northeast Bank by 5.8% in the first quarter. Russell Investments Group Ltd. now owns 63,165 shares of the financial services provider’s stock worth $3,496,000 after purchasing an additional 3,459 shares in the last quarter.

Northeast Bank Stock Performance

Northeast Bank stock opened at $69.98 on Friday. Northeast Bank has a 52-week low of $42.43 and a 52-week high of $74.85. The stock’s 50 day moving average price is $64.14 and its two-hundred day moving average price is $57.69.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings results on Monday, July 29th. The financial services provider reported $1.91 earnings per share for the quarter. The company had revenue of $68.66 million during the quarter. During the same period in the prior year, the business posted $1.61 earnings per share.

Northeast Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.06%. The ex-dividend date of this dividend was Friday, August 9th. Northeast Bank’s payout ratio is presently 0.55%.

Northeast Bank Company 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.