American Century Companies Inc. Buys 19,947 Shares of Northeast Bank (NASDAQ:NBN)

American Century Companies Inc. boosted its stake in shares of Northeast Bank (NASDAQ:NBN) by 18.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,748 shares of the financial services provider’s stock after acquiring an additional 19,947 shares during the period. American Century Companies Inc.’s holdings in Northeast Bank were worth $7,714,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NBN. Allspring Global Investments Holdings LLC lifted its holdings in shares of Northeast Bank by 3,166.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,025 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 1,963 shares during the period. BNP Paribas Financial Markets raised its position in Northeast Bank by 82.2% during the first quarter. BNP Paribas Financial Markets now owns 3,640 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 1,642 shares in the last quarter. Enterprise Bank & Trust Co bought a new stake in Northeast Bank during the second quarter worth $201,000. Assenagon Asset Management S.A. acquired a new stake in shares of Northeast Bank in the 2nd quarter valued at $373,000. Finally, Boston Partners increased 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 last quarter.

Analyst Ratings Changes

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

Northeast Bank Trading Down 0.8 %

NBN stock opened at $69.31 on Tuesday. The company has a 50 day simple moving average of $68.40 and a 200 day simple moving average of $60.08. Northeast Bank has a 1 year low of $42.48 and a 1 year high of $74.85.

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

Northeast Bank Announces Dividend

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

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.