Squarepoint Ops LLC Buys Shares of 3,760 Northeast Bank (NASDAQ:NBN)

Squarepoint Ops LLC acquired a new stake in Northeast Bank (NASDAQ:NBN) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 3,760 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other large investors have also bought and sold shares of NBN. Marshall Wace LLP bought a new stake in Northeast Bank in the 2nd quarter valued at approximately $631,000. Dimensional Fund Advisors LP raised its holdings in Northeast Bank by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 422,573 shares of the financial services provider’s stock worth $25,716,000 after acquiring an additional 2,093 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in Northeast Bank in the second quarter valued at approximately $568,000. American Century Companies Inc. grew its position in shares of Northeast Bank by 18.7% in the 2nd quarter. American Century Companies Inc. now owns 126,748 shares of the financial services provider’s stock valued at $7,714,000 after acquiring an additional 19,947 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Northeast Bank by 145.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,972 shares of the financial services provider’s stock valued at $303,000 after buying an additional 2,947 shares during the period.

Northeast Bank Price Performance

NASDAQ:NBN opened at $80.01 on Friday. The stock has a 50 day simple moving average of $70.06 and a 200 day simple moving average of $62.30. Northeast Bank has a 1-year low of $43.01 and a 1-year high of $80.30.

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

Northeast Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.04 annualized dividend and a yield of 0.05%. Northeast Bank’s dividend payout ratio is 0.53%.

Wall Street Analysts Forecast Growth

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

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.