Western Standard LLC Buys 10,742 Shares of Northeast Bank (NASDAQ:NBN)

Western Standard LLC grew its stake in shares of Northeast Bank (NASDAQ:NBN) by 31.5% during the fourth quarter, HoldingsChannel reports. The firm owned 44,858 shares of the financial services provider’s stock after purchasing an additional 10,742 shares during the quarter. Northeast Bank accounts for approximately 2.7% of Western Standard LLC’s holdings, making the stock its 15th biggest position. Western Standard LLC’s holdings in Northeast Bank were worth $4,115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Picton Mahoney Asset Management boosted its holdings in shares of Northeast Bank by 57.6% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the financial services provider’s stock valued at $30,000 after buying an additional 118 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Northeast Bank by 5.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,433 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 186 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Northeast Bank by 2.9% during the fourth quarter. Sterling Capital Management LLC now owns 6,633 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 187 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in Northeast Bank by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 57,181 shares of the financial services provider’s stock worth $5,245,000 after purchasing an additional 238 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Northeast Bank by 10.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,982 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 388 shares in the last quarter.

Northeast Bank Trading Up 0.2%

Northeast Bank stock opened at $85.54 on Tuesday. Northeast Bank has a 12 month low of $54.50 and a 12 month high of $110.35. The company has a market capitalization of $701.94 million, a price-to-earnings ratio of 9.96 and a beta of 0.60. The business’s fifty day simple moving average is $88.02 and its two-hundred day simple moving average is $94.72.

Northeast Bank (NASDAQ:NBN) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.60). The firm had revenue of $52.57 million during the quarter, compared to analysts’ expectations of $50.09 million.

Northeast Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a $0.01 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bank’s dividend payout ratio (DPR) is presently 0.44%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their price target on Northeast Bank from $102.00 to $115.00 and gave the stock a “market perform” rating in a research report 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.