Emerald Mutual Fund Advisers Trust Trims Position in Northeast Bank (NASDAQ:NBN)

Emerald Mutual Fund Advisers Trust lowered its holdings in shares of Northeast Bank (NASDAQ:NBN) by 19.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,238 shares of the financial services provider’s stock after selling 5,738 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.30% of Northeast Bank worth $2,223,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management grew its position in 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 acquiring an additional 118 shares in the last quarter. R Squared Ltd bought a new position in shares of Northeast Bank during the fourth quarter valued at approximately $41,000. KLP Kapitalforvaltning AS purchased a new position in shares of Northeast Bank in the 4th quarter worth approximately $128,000. Federated Hermes Inc. boosted its holdings in Northeast Bank by 44.4% in the fourth quarter. Federated Hermes Inc. now owns 1,557 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 479 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in Northeast Bank by 121.2% during the 4th quarter. Quantbot Technologies LP now owns 2,190 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 1,200 shares during the period.

Northeast Bank Price Performance

Shares of NBN stock opened at $92.41 on Tuesday. Northeast Bank has a 1-year low of $51.50 and a 1-year high of $110.35. The firm has a market cap of $758.32 million, a PE ratio of 10.76 and a beta of 0.85. The company has a 50-day moving average of $91.37 and a two-hundred day moving average of $94.87.

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

Northeast Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $0.01 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Northeast Bank’s dividend payout ratio (DPR) is currently 0.47%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Northeast Bank from $102.00 to $115.00 and gave the company a “market perform” rating in a research note on Monday, February 10th.

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.