Mesirow Financial Investment Management Inc. Reduces Stock Position in Northeast Bank (NASDAQ:NBN)

Mesirow Financial Investment Management Inc. trimmed its holdings in shares of Northeast Bank (NASDAQ:NBN) by 17.9% in the 3rd quarter, Holdings Channel reports. The firm owned 4,285 shares of the financial services provider’s stock after selling 933 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Northeast Bank were worth $331,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in Northeast Bank by 11.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,268 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 520 shares in the last quarter. Ellsworth Advisors LLC raised its holdings in shares of Northeast Bank by 5.0% in the second quarter. Ellsworth Advisors LLC now owns 12,613 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 598 shares in the last quarter. Boston Partners lifted its stake in Northeast Bank by 5.2% in the first quarter. Boston Partners now owns 13,839 shares of the financial services provider’s stock worth $766,000 after acquiring an additional 689 shares during the period. BNP Paribas Financial Markets grew its holdings in Northeast Bank by 82.2% during the 1st quarter. BNP Paribas Financial Markets now owns 3,640 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 1,642 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in 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 valued at $112,000 after purchasing an additional 1,963 shares during the period.

Northeast Bank Trading Down 0.9 %

Shares of NASDAQ:NBN opened at $102.43 on Wednesday. Northeast Bank has a 12-month low of $49.07 and a 12-month high of $105.44. The business’s fifty day simple moving average is $79.70 and its 200-day simple moving average is $67.83.

Northeast Bank (NASDAQ:NBN) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.34. The company had revenue of $73.97 million during the quarter, compared to analysts’ expectations of $38.20 million. During the same quarter last year, the firm earned $2.01 EPS.

Northeast Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Northeast Bank’s dividend payout ratio (DPR) is presently 0.52%.

Analysts Set New Price Targets

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

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.