JPMorgan Chase & Co. Buys 15,975 Shares of Northeast Bank (NASDAQ:NBN)

JPMorgan Chase & Co. raised its stake in shares of Northeast Bank (NASDAQ:NBN) by 136.3% during the 3rd quarter, Holdings Channel reports. The fund owned 27,699 shares of the financial services provider’s stock after purchasing an additional 15,975 shares during the period. JPMorgan Chase & Co.’s holdings in Northeast Bank were worth $2,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BNP Paribas Financial Markets boosted its position in 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 valued at $127,000 after acquiring an additional 442 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Northeast Bank by 11.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,268 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 520 shares in the last quarter. Foundry Partners LLC boosted its position in Northeast Bank by 0.9% during the 3rd quarter. Foundry Partners LLC now owns 74,127 shares of the financial services provider’s stock valued at $5,717,000 after acquiring an additional 695 shares in the last quarter. Geode Capital Management LLC boosted its position in Northeast Bank by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 153,470 shares of the financial services provider’s stock valued at $11,840,000 after acquiring an additional 801 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Northeast Bank during the 3rd quarter valued at $76,000.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods started coverage on Northeast Bank in a research report on Thursday, November 21st. They issued a “market perform” rating and a $102.00 price objective for the company.

Northeast Bank Price Performance

Northeast Bank stock opened at $101.89 on Wednesday. The stock has a market capitalization of $836.11 million, a price-to-earnings ratio of 13.23 and a beta of 1.08. Northeast Bank has a 1-year low of $49.07 and a 1-year high of $105.44. The business has a fifty day moving average price of $96.84 and a 200-day moving average price of $82.01.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.34. The business had revenue of $73.97 million during the quarter, compared to analyst estimates of $38.20 million. During the same period in the previous year, the business earned $2.01 EPS.

Northeast Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a $0.01 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Northeast Bank’s dividend payout ratio (DPR) is 0.52%.

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.